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To: Dealer who wrote (26342)	12/20/2000 3:28:35 PM
From: Nick	Respond to of 65232

You know he warned us about the bubble many times. I bet he tells Andrea how he warned us and how we refused to heed his warnings, but now he is King Greenspan and she is the Queen and that he is going to make us pay.

To: Dealer who wrote (26342)	12/20/2000 3:29:41 PM
From: limtex	Respond to of 65232

Dealie - He is teaching us a lesson we will never forget! He is clearly not a forgiving man and he wants to enjoy all of his revenge for being made to look dumb a for the last few years. He is much more unforgiving than you can imagine. Best regards, L

To: Dealer who wrote (26342)	12/20/2000 9:20:25 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

To: engineer who wrote (62261) From: Ramsey Su Wednesday, Dec 20, 2000 7:27 PM ET Reply # of 62283 engineer, I don't know how many times I heard people talk about how great a job that AG did and yet, when asked, no one can tell me what he did that was so great. Here is why I think he is going down in history as one of the worst Fed Chairman we know. I hold him responsible for the volatility, which is exactly the Fed's job to minimize. First, we all remember the famous irrational exuberance speech. If you look at history, the Fed did nothing but pump liquidity into the market, creating more exuberance. Then came the systemic crisis created by LTCM. What did the Fed do? They called in a couple of the big Wall Street boys to fork out a few hundred million apiece to bail out LTCM. Miraculously, in the face of all this inflation talk, the Feds dropped rates 3 times. One of these rate cuts was mid session, clearly showing the urgency of the situation. We all know the results. LTCM liquidated "peacefully" and the Wall Street boys all got their money back plus a decent profit. When questioned in front of Congress, specifically related to whether the LTCM type hedge funds should be regulated, Greenspan said no. The industry can regulate themselves. This is total hogwash. If the industry can regulate themselves, then why the 3 rate cuts to bail them out while you are crying inflation, Mr. Greenspan? This gave the message that the Fed will not allow the market to fail. Everyone can go exuberant away with no worries. The next buzz word is Wealth Effect. One of the most simple tools that the Feds have, aside from raising rates, is raising margin requirements. That is textbook MacroEcon 101. Raising margin requirements would not only shut off the speculative buying, it also sends a clear signal that the feds means business. Finally, we had our 3 rate hikes, which was nothing more than reversing the 3 rate decreases due to the LTCM fiasco. So the bubble got blown up to uncontrollable level, with little chance now for a soft landing. The Fed's main job is to provide stability. Mr. Greenspan failed miserably. Now if anyone thinks that Greenspan did a great job. Please state your reasons. My message to Bush is to ask for a quick resignation and bring somebody else on. Ramsey