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To: Bill Holtzman who wrote (15126)12/21/2000 9:35:36 PM
From: onurbius  Read Replies (1) | Respond to of 24042
 
I dont get this now-I'm-contrite-about-my-gambling-excesses evangelizing. You seem to imply that anyone who saw the writing on the wall and sold to preserve profits before the crash is virtuous, while those who held and lost are sinners. What about the saints who helped build this country like Carnegie, Rockefeller, Morgan and Kennedy? It has been reported that they and their ilk made vast fortunes on the short side of the 1929 crash, after first manipulating the markets to speculative heights. This country is about money and power, and the two go hand in hand. C'mon now, they didn't make their money by splitting rails with Honest Abe.
As for Greenspan: He created the fertile investing environment which gave rise to the "irrational exuberance" market in the first place. The sin is in taking down his own
excesses by throwing the little guy to feed the monster.