Dow skids below 11,000 level on rate worries

Reuters via Yahoo ^ | 6/6/06 | Reuters

[gipper81]

Greenspan did not increase interest rates because of irrational exuberance.

I know that. He increased rates because he thought the economy was growing too fast. And the recession he caused in 2001 certainly reduced his fears of too fast growth! I mentioned irrational exuberance because it is linked to Greenspan talking down the stock market and being an asset manager at the time. Is this the role of the Fed? Of course not, just manage the money supply, damnit.

He increased rates because that's the only way to keep foreign investors buying T-bills at the treasury auctions.

Well...that certainly worked well didn't it?!

[Concentrate]

And to yours.