To: hmaly who wrote (134551 ) 3/14/2001 12:20:22 PM From: tejek Read Replies (2) | Respond to Ted Re..I said his negative comments were fueling negative sentiment in the marketplace Today's one of those days where I wish Bob Rubin were running Treasury. I could see him calling a couple of people in and saying, "Look, we have this one under control. Fed's going to cut to 3.5%, the economy is sound, this will all blow over." He would do it on background, but somehow it would come out and traders would feel silly for panicking and bargain hunters would come in and take advantage of this decline. Bush? He seems as out of touch about the stock market as his father was about milk at the 7/11. Not that his dad knew anything about the stock market, either. Greenspan? He is spending so much time not panicking that he will eventually have to panic. There's supposed to be a game plan somewhere that would make us feel like the center will hold and that there is opportunity. We don't have a single person in Treasury who knows these markets, save Peter Fischer, and he is a regulator, a faceless regulator who has no presence on Wall Street. So we have to wait for the fundamentals to reassert themselves and the chaos to be sorted through. We can pick at some bargains, but without a larger frame of reference that makes us "feel" as if things are under control (even if they actually are), we get this kind of punishment.
