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Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: nihil who wrote (60425)	8/29/2001 1:53:48 AM
From: JF Quinnelly	Respond to of 71178

Life is too short to argue with a totally misinformed person like you. A case in point. The governor of New York had no authority over any banks at all. The only person who could (possibly) have prevented the collapse of the banking system was the Chairman of the Board of Governors of the Federal Reserve System. Apparently you operate on the belief that the Fed controlled State chartered banks. Or maybe you simply don't know that they existed. Do you actually read Friedman and Schwartz, or merely use it as a doorstop? The footnote on page 309 concerning the Bank of United States, the key commercial bank to fail, indicates that it was New York State Superintendent of Banks Joseph Broderick and Lt Governor Lehman who were leading the attempt to save the Bank- it must mystify you as to why these two New York State officials were involved, since you clearly believe they had no role. I guess they were just totally misinformed tootlers, like me. Read the material next time, blowhard.