"The social system of private property and limited government is the only system that tends to debarbarize all those who have the innate capacity to acquire personal culture."
~Ludwig von Mises
Sep 27, 2008
Alan Greenspan's response to the '87 Crash
The Federal Reserve, consistent with its responsibilities as the nation's central banker, affirmed today its readiness to serve as a source of liquidity to support the economic and financial system.
~ Alan Greenspan, Federal Reserve chairman, October 19, 1987
(On October 19, the Fed reversed their September 4 rate hike, lowering the Fed funds rate from 7.25% to 6.88% in an emergency inter-meeting move.)
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