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To: bill meehan who wrote (16668)	1/21/1999 3:10:00 PM
From: accountclosed	Respond to of 86076

Gotta go--Joe B on TV (g). I wonder where he stands? You are a little more challenging for us to post to than the average guy. We're all a little speechless on this one <VBG>. There is a whispering going on in the private message realm. Do you think he's serious? I'll bet you know what we think of Joey. <g> Terry has a great website making fun of him.

To: bill meehan who wrote (16668)	1/21/1999 3:12:00 PM
From: Cynic 2005	Respond to of 86076

Understood. What do you think of Mr. Jordan's stand on the interest rate policy (only one to dissent in Nov and earlier meetings.) Obviously, he is our (this thread regulars') hero. Thursday January 21, 2:44 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Fed's Jordan warns against inflationary policies NEW YORK, Jan 21 (Reuters) - Federal Reserve Bank of Cleveland President Jerry Jordan on Thursday warned against the danger of governments encouraging inflationary monetary policies. ''Governments, and especially those that heavily discount the future, will always be tempted to instruct or to pressure their central banks to issue excessive amounts of money,'' Jordan told the Fraser Institute in Calgary, Alberta. The speech on ''Economic Policies for Sustained Prosperity,'' was also available in New York. ''The effects of such short-sighted government policies are transitory at best. As people alter their behavior in the face of inflation, there is an increase in the costs of conducting exchanges,'' added Jordan who, as a voting member of the Federal Open Market Committee (FOMC) in 1998, dissented a record five times in favor of tighter Fed policy.

To: bill meehan who wrote (16668)	1/21/1999 3:31:00 PM
From: Mike M2	Respond to of 86076

Bill, any relation to Mike Meehan -the RCA specialist? While I agree with your point that the AG fall bailout should not be repeated and those who expect to be saved again may be disappointed. I have to question a central banker who lets a speculative bubble get so out of control in the first place. Have you read AG's criticism of the Fed's easy money policies of the 20's? In light of these remarks I have to question his thinking and motives. In my opinion his analysis of the Fed's policies during the 20's was correct. Mike fame.org

To: bill meehan who wrote (16668)	1/23/1999 10:35:00 AM
From: accountclosed	Respond to of 86076

biz.yahoo.com

To: bill meehan who wrote (16668)	1/30/1999 9:17:00 AM
From: accountclosed	Read Replies (1) \| Respond to of 86076

You know what's great about Federal Reserve Chairman Alan Greenspan? If you're a spinmeister, you can spin his obtuse public comments on almost any subject in almost any way. What if he says the U.S. economy is slowing? ...But what about this lottery theory? CS First Boston analyst Michael Mauboussin wrote some very interesting things about this recently. "Standard finance theory say[s] that the greater the uncertainty, the higher the appropriate discount rate, and the lower the present value. Uncertainty, expressed as volatility, lowers value." Got it. Next: "Based on the widely used Black-Scholes model, option value is a function of the value of the underlying asset, a strike price, time, the risk-free rate and volatility. As options have asymmetric payoff schemes, volatility increases value." By asymmetric, he's talking about the fact that an option can only lose 100% of its value versus the possible increase in value in the thousands of percentage points. fnews.yahoo.com