From owner-freebsd-chat  Sat May 27 19:45:18 2000
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From: "Jonathan M. Bresler" <jmb@hub.freebsd.org>
To: jhix@mindspring.com
Cc: chat@FreeBSD.ORG
In-reply-to: <392C7D17.359FD8E7@mindspring.com> (message from W Gerald Hicks
	on Wed, 24 May 2000 18:08:39 -0700)
Subject: Re: The Ethics of Free Software
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Date: Sat, 27 May 2000 19:45:15 -0700 (PDT)
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	I worked for two years at the Board of Governors of the
Federal Reserve System.  During that time, I was able to meet and
observe the work of several members of the Federal Open Market
Committee.  Based upon that experience, it is clear to me that your
statements are unencumbered by having to face reality.  They are some
of the most careful and dedicated people that I have met.

jmb

> 
> Terry Lambert wrote:
> [snipped]
> > I have never really understood the idea of the chairman of the
> > U.S Federal Reserve bank raising interest rates "because the
> > economy is running too hot".  There may be good reasons for
> > artificially braking the economy from where it would go in an
> > otherwise unregulated system, but I haven't ever seen any math
> > to tell me why where it would go in an otherwise unregulated
> > system, at least for the interest rate constraint, would be an
> > undesirable place.
> > 
> 
> You forgot about the chicken bones they toss around to help decide these
> matters  :-)
> 
> For you conspiracy theorists out there, several reports are in that
> GeeDubya wins big in November if the economy tanks.  It's well known
> that Mr Greenspan is a staunch Republican.
> 
> IMHO, far too much power rests at the Federal Reserve Bank.
> 
> Cheers,
> 
> Jerry Hicks
> jhix@mindspring.com
> 
> 
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