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Quotes of the Week

November 3, 1997

"It is important to remember that the fundamentals of the United States economy are strong and have been for the past several years. And the prospects for continued growth with low inflation and low unemployment are strong."
Robert Rubin
"provided the decline in financial markets does not cumulate, it is quite conceivable that a few years hence we will look back at this episode, as we now look back at the 1987 crash, as a salutary event in terms of its implications for the macroeconomy."
Alan Greenspan during speech on 10/29/97
"we didn't find too much solace in Alan Greenspan's observation that a 550-point drop was good for the market. We can only infer that an 1,100-point drop would be twice as good for the market and a 2,200-point drop . . . we're convinced that what we saw last week was not the whole movie, but merely a brief coming attraction."
Alan Abelson in "Dr. Pangloss, We Presume?" $$ from Barron's (11/3/97)
"Wow - who needs horror movies or action flicks when we have the world of finance to entertain us each week. Stick around here for awhile and I'll guarantee you enough thrills, chills, and breathtaking excitement to keep a convention of cardiologists in business for a decade."
Louis Rukeyser on Wall Street Week (10/31/97)
"We were just sitting like a duck waiting to be shot, and that's what happened."
Leo Melamed (Chairman Emeritus of the Chicago Mercantile Exchange)

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