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To: GST who wrote (139167)	2/12/2002 2:10:26 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164685

My God, AG had to derail the worst mania ever seen in human history is there any actual evidence that the dotcom bubble was the worst mania in human history? I know people say it was very severe but compared to say, Tokyo real estate, or California real estate in the 80s how does it compare? I had some Andy Warhol prints which in the 80s appreciated from about $25. to $400K. Why is this stock market bubble any different? BTW in both cases (CA real estate and Andy Warhol) the mkt crashed and is now above where it was in the bubble period, albeit 10-15 years later. L

To: GST who wrote (139167)	2/12/2002 3:31:22 PM
From: Bill Harmond	Read Replies (3) \| Respond to of 164685

>>AG had to derail the worst mania ever seen in human history before it destroyed the economy. Off on all three counts. AG took back the liquidity he put in during late 1998 (Asian crisis) and 1999 (Millennium), in spite of the fact that the US economy was growing at 3-4% through that period, because the CPI was starting to spike. He didn't target the dot-coms. If you think inflated dot-coms threatened the $10 trillion US economy you have miscalculated. The fact that the economy is having one of the shortest shallowest recessions ever in spite of this tech-spending freeze (AG's stated unintended consequences in his SF speach a few weeks ago) is proof to the fact. I'm taking leave from our discussion for a while. I think we've made our points.