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Pastimes : I AM A MINDLESS ZOMBIE -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (1)	8/14/2002 1:09:41 AM
From: LLCF	Read Replies (1) \| Respond to of 258

Nice thread.... sort of like CFZ, most Americans really didn't understand that Greenspan had held rates artificially low and so projects and loans kept looking real good to them on paper ceteris paribus. A bit more complicated, in that really common sense would tell folks that stocks don't just soar every year and that things had gotten crazy, whereas borrowers could probably make semi-conservative assumptions on the economy and the loans still looked damn good. Too bad they didn't realize it WAS a bubble, until it was too late... of course if they did, they're wouldn't have been one. SOME had the foresight of course, and they benefit from the mindless zombies. DAK

To: Maurice Winn who wrote (1)	8/14/2002 1:49:00 AM
From: TobagoJack	Read Replies (4) \| Respond to of 258

Dear Maurice, You are right. We must not put any blame, however apportioned, on the world's top central banker, for all that has taken place under his watch, while he was reading the George Gilder Telecosmic Report. There were a lot of thoughtless leaders and clueless cheerleaders through out history that led and allowed zombies under their care to come to ill end. Should we blame these leaders, even a little bit, when we can blame the mindless zombies for following the thoughtless leaders? No, of course not. It is s nice to have a central banker who refuses to talk about currency value, goes by the judgement of equity analysts by names like Meeker and Blodget, and prescribes two aspirin and a rate cut for every ailment. My goldfish can do the job at half the pay and none of the adulation, and it does not need a knighthood to feel like a man. Chugs, Jay

To: Maurice Winn who wrote (1)	8/14/2002 2:20:07 AM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 258

Maurice, Not to pick on Mr. Greenspan (or any other individual for that matter), the reporter has made a valid point. Many people, not least of all investors, made many mistakes during the bubble years. To try to single out any one particular party and assign blame, as though we had a civil tort committed, is in my opinion, fruitless. We should just pick up the pieces and move on. Learn from our past mistakes yes; assign blame, no... KJC