Thursday, March 03, 2005

A Greenspan PSA
I apologize for the lack of posts. I'm working on some long posts, but until then, here's something worth remembering.

The Chairman of the Board of Governors of the Federal Reserve System gave this public service announcement in November 2004:
"[R]ising rates have been advertised for so long and in so many places that anyone who has not appropriately hedged this position by now obviously is desirous of losing money."
Alan Greenspan, November 19, 2004
European Banking Congress in Frankfurt
Are you one who "obviously is desirous of losing money?"


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