Greenspan Coins a New Phrase [headline]

[AAllan at AOL.COM]

>From the July 17 New York Times on the Web . . .

By FLOYD NORRIS

[I] nfectious greed."

The man who gave us "irrational exuberance" is back, with a phrase that sums
up the late 1990's even better than that one did.

"An infectious greed seemed to grip much of our business community," the
Federal Reserve chairman, Alan Greenspan, told the Senate Banking Committee
yesterday. The way he sees it, the incentives created by poorly designed
stock options "overcame the good judgment of too many corporate managers."
. . . .

- Allan Metcalf