Greenspan’s Folly

Re “Economy Suffers Another Setback,” Aug. 3: “Wall Street was swept by rumors that the Federal Reserve is preparing to cut its key interest rate again....” Does anyone remember Federal Reserve Board Chairman Alan Greenspan’s first interest rate cuts? Part of the rationale was to save the stock market.

Greenspan has clobbered the wise investors who haven’t put all their eggs in one basket, the kind of folks who probably vote Republican. Can--will--anyone stop this man? His time is up.

Mary Meyer

Pasadena