``The seizures and convulsions we have experienced in the debt and equity markets have been the consequences of a sustained orgy of excess and reckless behavior, not a too-tight monetary policy,'' Fisher said to the New York University Money Marketeers Club. ``I was, and I remain skeptical, that lowering the fed funds rate is the most effective antidote,'' he said. ``Rates held too low, too long during the previous Fed regime were an accomplice to that reckless behavior.'' - Tom Legg
multi-layered, including direct capital injections into the stock market and listed companies, monetary and fiscal policies to intervene in the market, and public statements to boost sentiment. - Tom Legg
Mr Tsang wrote that increasing flat rents had been the major factor in pushing the inflation rate higher. He admitted there were limited measures that could be taken, given Hong Kong's relatively small-scale, market-driven economy. - Tom Legg
