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

To: sun-tzu who wrote (131950)	10/30/2001 7:10:35 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

HO HO HO! The last paragraph of Fleck's Rap tonight is a gem: Colin On Jacksquat Colin adds, "Apparently, some people think stocks just can't go down two or three years in a row. How about 10? Ask the Japanese. Their market provides the best model for the future of the U.S. I know, the U.S. is different. They had Mieno. We have Greenspan. They have lousy prudential regulations. We have the 'committee to save banks from LTCM and Argentina.' They have no system of adversarial justice to 'clear' the markets. We have more lawyers per capita than any country on earth. All true. They had 40% of the world's savings in their bank vaults to shield them from the collapse of the Nikkei. We have the square root of @#$# all in our bank vaults because everyone bought the hype of stocks providing permanent double-digit annual returns. We will suffer more than they did. Period." Not much more to say, is there?