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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (56040)	4/14/1999 2:50:00 PM
From: Stefan	Read Replies (2) \| Respond to of 132070

So, we are destined to go to DOW 15000 by June?

To: Mike M2 who wrote (56040)	4/14/1999 3:20:00 PM
From: Freedom Fighter	Respond to of 132070

>>He was critical of the Fed's easy money policy of the 20's for allowing the boom to get out of hand. I cannot say why he let history repeat. Mike << My guess is that he was scared to death of the banking problems in the early 90s. A few of the large commercial banks were in deep doodoo. He was over stimulative at that time and set the bubble in motion. He later bowed to pressure to NOT raise rates in 95-96 even though he was worried about the market. As the situation got worse he started hiding behind his mandate of stable "consumer" and not asset prices. The bubble became so big that pricking it would have an unquantifiable impact so he let it go. Asia blew up so he couldn't tighten. The financial system almost seized last year so he panicked again.... You can end the story.... Wayne