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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2307)	3/17/2004 1:00:44 PM
From: Tommaso	Read Replies (2) \| Respond to of 116555

Inflation under control? Commodity prices up over 10% so far in 2004? djindexes.com The PIMCO fund, PCRDX, aims at reproducing the results of the Dow Jones commodity index.

To: mishedlo who wrote (2307)	3/17/2004 1:44:56 PM
From: CalculatedRisk	Respond to of 116555

This speech reminds me ... The last thing that Alan Greenspan did before he left Townsend Greenspan to become Fed Chairman, was to opine on the S&L industry, and more precisely Charlie Keating's S&L. What follows is a vignette from the book "Inside Job," written by Steven Pizzo, about an encounter in 1984 between Greenspan and Ed Gray, who was the Federal Home Loan Bank board chairman. "Gray received a letter from respected economist Alan Greenspan telling him he should stop worrying so much. Greenspan wrote that deregulation was working just as planned, and he named 17 thrifts that had reported record profits and were prospering under the new rules. Greenspan wrote the letter while he was a paid consultant for Lincoln Savings & Loan of Irvine, CA, owned by a Charles Keating, Jr., company. Four years after Greenspan wrote the letter to Gray, 15 of the 17 thrifts he'd cited would be out of business and would cost the FSLIC $3 billion in losses." In addition, in 1985, Greenspan pronounced specifically that the management of the Keating thrift enterprise was "seasoned and expert" with a "record of outstanding success in making sound and profitable direct investments." Excerpted from: fleckensteincapital.com