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To: damniseedemons who wrote (15283)	12/10/2002 3:54:19 PM
From: hmbsandman	Respond to of 57684

Some weeks before the IMF made a loan to Brazil to bail them out, O'Neill made a remark about how most of the money was going to end up in Swiss bank account anyway. Maybe that's true, but it spooked the markets no end. Later he retracted the remark and I believe he apologized for it as well. There were many other such gems..another one being how the markets shouldn't pay attention to him because his remarks don't really matter. It'd be funny if it wasn't so serious :) Regards, Sandeep

To: damniseedemons who wrote (15283)	12/11/2002 11:38:33 AM
From: Oeconomicus	Respond to of 57684

Sal, I read an editorial column this morning (WSJ, I think) that quoted him as having called the social security system a pyramid scheme with no real assets. He's technically right, of course, but that's not something a treasury sec'y should be saying publicly. The column also made the point that he seemed to think that just being technically correct should be sufficient reason for everyone, the hill included, to do as he suggests. Not a very likely way of getting things done. Bob