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To: orkrious who wrote (183977)	7/26/2002 10:38:23 PM
From: Nadine Carroll	Respond to of 436258

The money paragraph But it is today important to appreciate that Greenspan has lost control of the Credit system unlike at any time during his extended term. While the banking system struggled in the early nineties under its worst crisis since the Great Depression, Greenspan was content to look the other way as Wall Street and the GSEs took dominant control of the Credit mechanism. With each subsequent financial crisis, Alan Greenspan was quick to act aggressively in the best interests of Wall Street and the leveraged speculating community. He maintained at all times the power to keep the Bubble expanding. He was king, his power absolute, and he meted out his favors on the likes of JP Morgan and Citigroup. But the environment has changed profoundly. Financial regulators are now moving aggressively on their own accord, perhaps aghast at the Fed’s reckless permissiveness and negligent lack of leadership. Meanwhile, politicians are keenly focused on their clamoring constituents. “Wanted: Dead or Alive,” anyone associated with Enron, WorldCom, or any of the other corporate crooks. The public is sour and wants justice. Importantly, “Structured Finance” is in the process of being unearthed as a critical part of the problem. The risk markets will never be the same.