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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (118470)	8/27/2001 10:08:08 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

only now.... at the end... do they understand.... poor fools. HO HO HO

To: Mike M2 who wrote (118470)	8/28/2001 12:44:49 AM
From: Thomas M.	Respond to of 436258

After all, with the benefit of hindsight, it is pretty obvious that billions of dollars of investment spending have simply been wasted First of all, as Luc said, Bill Dudley is a pro economist, and couldn't see this most obvious bubble until after it burst. Or, more likely, he was scared to comment on it, for fear of being fired. But, I still applaud his comments. Why? Because there are still alot of jokers running around denying the bubble existed at all. As obvious as his comments are, they need to be made repeatedly to prevent Clowns from lynching the wrong perpetrator. Exhibit A, one of the replies: prudentbear.com As is too often the case, I find it amazing that Goldman Sacks is now saying that Greenspan should not have reduced interest rates in 1998. My own recollection of the events is that Long Term Capital Management had hedged itself and was about to bring down some big brokers and banks. It was only because Greenspan stepped in to bail out the brokers and the banks that he reduced rates. There are enough of us that remember the facts. It is getting scary when baldfaced lies are the norm and truth is decried. Of course, bringing down some banks and brokers would be the best thing that has happened to our economy in decades. Not only does this clown not grasp the concept of moral hazard, he mistakes Greenspan's rate cut in 1998 with the goosing of the money supply for Y2K, two separate events. Tom