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To: 4rthofjuly007 who wrote (19740)	11/6/2001 8:38:22 PM
From: 4rthofjuly007	Respond to of 209892

And BTW. I was NOT in Washington D.C today at 2:15.<g>

To: 4rthofjuly007 who wrote (19740)	11/6/2001 10:24:51 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

You are right. Blaming Greenspan is irrelevant. The forces at work are beyond him. Make no mistake though, he is a principal actor in the greatest bubble of all time and will not be treated kindly going forward.

To: 4rthofjuly007 who wrote (19740)	11/6/2001 10:38:19 PM
From: Perspective	Read Replies (4) \| Respond to of 209892

No, AG deserves a great deal of blame for the mismanagement. Greenspan is the one, single human being on the planet who had the power to single-handedly avoid this entire mess. It's his JOB to take away the punch bowl before everyone gets too sauced. There is a reason that we've had recessions periodically for as long as there has been capitalism, and they are good things. They purge the system, and remind everyone of the risks involved in a capitalist system. Greenspan has consistently tried to please everybody by avoiding the harsh medicine of recession, and in the process caused the present recession to be amplified exponentially. AG deserves much blame. He should have let a recession happen in 1995. Or 1998, when it would have been worse, but not as bad as waiting 'til 2000. By attempting to hold it off yet another two years, he has further exacerbated the situation. There are scores of individual economic cycles - waves running underneath the overall economic surface. By forcing interest rates artificially low time and again, injecting heroin into the system repeatedly, he has synchronized every subcycle in the economy and every economy on the planet. Now, instead of having pockets of strength available to support the areas of weakness, we have synchronized global recession: synchronized across geography, and synchronized across industry. This will all end so badly. I've upgraded my forecast for the intensity and duration of the downturn yet again. Odds of a depression now exceed 50%. BC

To: 4rthofjuly007 who wrote (19740)	11/6/2001 11:30:05 PM
From: NOW	Respond to of 209892

"Imagine what this guy is up against. If anyone can tell me, I'm all ears. " Thats JUST THE POINT! Its not a job someone can do or should do! The market should do the job.

To: 4rthofjuly007 who wrote (19740)	11/7/2001 1:19:53 AM
From: UnBelievable	Read Replies (1) \| Respond to of 209892

You Might Want To Ask Heinz Over On CFZ For His Perspective Concerning AG's Actions. I think his credentials as an economist and economic historian are rather uniformly respected. The fact is that either out of ignorance (which I doubt) or intent, AG has consistently acted in a manner that has placed the interests of the economic elite, particularly investment bankers, ahead of the interests of this country. While it is true that the major banks in the US own the Federal Reserve it was not the intent of the enabling legislation to establish an institution that did not place the interests of the US economy first. Or perhaps you feel that was is good for Goldman Sachs and Morgan Stanley are good for the country. <gg> I don’t think that everyone who is critical of the Clinton/Rubin/ Greenspan “economic miracle” does so because they experienced investment losses as a result of the economic policies upon which it has its foundation.