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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (213343)	1/9/2003 9:52:22 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 436258

Mike, I think there were opportunities for AG to act in a responsible manner by taking the punch bowl away and he chose not to. It's possible that was an honest mistake or simply a decision I disagree with. However, along the way there were also actions that were clearly designed to sustain the bubble and/or bail out stressed firms on Wall St. (like the options rate cut) I don't hold just the Fed accountable though. Wall st was pumping like crazy with a steady dose of lies, spins, and crappola to keep the naive sending the money in. That combination is really as close to rape and pillage as it gets. The mischief also extended beyond our borders in the various IMF deals that were cut. I know of one case where a US financial institution was on the hook in Asia during the crisis there. The conditions imposed by the IMF on the debtor nation in order for it to receive tax payer money protected the institution and wrecked the economy of that nation. That's bad enough, but while the economy of that nation was wrecked that same institution went in and bought a bunch of assets for dimes on the dollar. IMO, that's a horror show.