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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (16)	1/14/1999 4:48:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 309

Michael Belkin On Alan Greenspan: "Greenspan has made the Federal Reserve and U.S. financial markets the laughingstock of financial history. His legacy is an absurd credit bubble that even Sakikibara of the Japanese MOF and Financial Times commentators criticize. Bailing out Meriwether, Mexico, Brazil, etc. by expanding credit every time there is a hint of a crisis is directly responsible for stock market giddiness and dollar/yen weakness. "Greenspan and Rubin will go down in history as the Abbott and Costello of American financial history - the irresponsible charlatans who let the party get so out of control that America blew its life savings on a stock market bubble right before the economy and markets went into the biggest post-WW2 economic contraction." --------- I couldn't have said that better myself. Stole this from Clark on the Asia Forum: #reply-7263150

To: Lucretius who wrote (16)	1/14/1999 6:57:00 PM
From: Tom M	Respond to of 309

LT, let's not forget to give a little credit to Bubba for this, as Abelson said, it is Bubba's bubble. He was just unfortunate enough to get elected to a 2nd term where he now had to franticly keep it going until he could pass his own mess on to the next administration. He started with a freshly reformed, freshly bailed out banking system. What do you think it's gonna look like when the derivative abuse hits the fan? Will he still charm 73% in the polls? Of course this is just my opinion, and I reserve the right to choose how I define the word "opinion". regards, Tom