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To: Jim McMannis who wrote (128924)	3/3/2001 1:38:45 AM
From: kapkan4u	Read Replies (1) \| Respond to of 186894

<Agreed, but what baffled me is why the NASDAQ kept going up despite AGs rate hikes which started in the summer of 1999. It had to be the y2k effect...I even hear AG was pumping money into the economy as a buffer. That would have been his big mistake, not the hikes...> Yes, the big mistake was too much liquidity not the tight monetary policy. He should have slammed on the breaks very hard when the Dow was at 6400, when he made his famous "irrational exuberance" comment. But I doubt that he could have prevented the bubble from forming. The Internet mania took on the life of its own. Kap