Terrific article from the FT warning us that the infamous "Greenspan Put" may encourage complacency and create moral hazard.
That was in December 2000, a mere eight years ago. A nice call there by Peronet Despeignes. Not so nice call by Big Al Greenspan, whose aura was so pronounced back in 2000 that it can be seen clearly in the photo to left.
Click on the article for the full story.
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