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To: Morgan Drake who wrote (28415)	4/26/1999 8:52:00 PM
From: Bruce Jordan	Read Replies (2) \| Respond to of 152472

Greenspan is one of the smartest guys to speak to Congress, including members. You may not like it when his words affect the market, but his influence is well placed. I worry about what would happen to the market if he retired (or worse) - he isn't getting any younger.

To: Morgan Drake who wrote (28415)	4/27/1999 12:55:00 AM
From: bdog	Read Replies (2) \| Respond to of 152472

<<If the guy got laryngitis for 6 weeks, the Dow would probably break 15000.>> Actually Morgan Babe, eighty percent of Big Al's job description has to do with providing countervailing informational input to mindsets such as yourself. No offense, bdog

To: Morgan Drake who wrote (28415)	4/27/1999 2:24:00 AM
From: limtex	Read Replies (1) \| Respond to of 152472

MD - Wll you've had your first AG rule and that is:- Never slag off AG! In any event I don't much like it when the market tanks so regularly when he goes up to the Hill but I guess that's part of the normal ups and downs of the market. Actually I think the members like to get a few tips from his talks as giving them a direction of the likely course of the market. Sort of like having Abbey Joseph Cohen come over to your office to give you her views in person. I do however like him to say nice things about the market during the occasional crashes. That is an extremely important function that he fulfills ie to talk the maket back up again. Yes to talk it back up where it should naturally be going but not to talk it down. That is an entirely rational preference. Regards, L

To: Morgan Drake who wrote (28415)	4/27/1999 7:45:00 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 152472

Hay, Morgan, that's My Pal Al you're talking about. It might be that Congress requires him to go and talk to them. I suppose they are his boss - maybe in a roundabout way. He seems to do a pretty good job of keeping the USA$ in a stable manner. Since it is no longer attached to anything to keep it in one place, it could easily spin out of control, so some care is needed. I think where he, and most people, lose their understanding is the value of the USA stock market which is the primary manifestation of The New Paradigm [Qdog snarls under his breathe, Little Chicken looks nervously skyward]. It is a better measure of real value than the $, but both, in some weird virtual reality dance on which our real lives are hinged, are priced by the other. That is an unstable situation and a steady dancer is needed on the currency side. There is a crazy and wild collective making up the stock market side. When you say that nobody wants to hear him blather on, you aren't quite right. I think a lot of people hang on to every word. People are still very interested in the meaning of a dollar. He and his cohorts are the people who decide just what it does mean. It's no bad thing that he open his mouth and see how far he can move markets. He should understand how much he can affect things. A bit of practise is a good idea. Mqurice