Sandwichman wrote: > Yeah, but all Greenie was doing was keeping the collateral damage from > spreading to the financial community itself.
right. But he had a dilemma: there's a conflict between what's good for individual financiers _now_ (e.g., deregulation) and what's good for the financial community in the longer run and as a group (sane banking regulation). That kind of conflict makes it difficult for any Fed Head to keep a good reputation with the financial community. Of course, the FH is not responsible for all (or even most) regulation decisions and any kind of deregulatory disaster (like the 1980s Savings & Loan melt-down) can be dealt with using taxpayer bucks. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
