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To: fedhead who wrote (153609)	2/24/2003 7:14:55 PM
From: hueyone	Respond to of 164685

The credit excesses resulting from the loose monetary policies of the fed is responsible for the bust. Bush is not helping matters but the macroeconomic errors were made by the fed in the 90's. As Grrenspan is discovering once the bubble busts the economy does not respond to the usual monetary stimulus. Good point. In addition, imo, the false accounting for stock options, or lack thereof, greatly contributed to today's economic problems as massive amounts of capital were misdirected in the nineities, and is still misdirected, to inefficient, poorly managed, unproductive companies rather than to companies capable of operating, sustainable enterprises with legitimate profits that add real value to our economy. I just threw that tidbit in there for Lizzie's enjoyment. <ggg> Regards, Huey

To: fedhead who wrote (153609)	2/24/2003 7:22:58 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 164685

We've had bubbles in the past that were not a result of loose monetary policies. Real estate on the west coast in the late 80s for example. I wish I could find the astronomical sum some set of investors once paid for boutique properties like Spyglass hill golf course or some marquis buildings in NYC in the late 80s. Besides this, it has been shown now that foreign money added in large part to the bubble too. Personally, I'm tired of this "its all Greenspan's fault" mantra, and I don't think the stock market bubble was all that bad anyway, in the general scheme of things. Reading SI you'd think we have another great depression on our hands. Just a typical restructuring and cleansing is all that is required, I can already see the benefits of this crash in the software companies, about 2 more years of rebuilding and we'll be back to normal in software I say.