From AP/Yahoo…
Stocks initially rose, lifting the Dow Jones industrials briefly above 13,600 for the first time, after the market got a fresh load of deal-related news that included a possible bidding battle over aluminum producer Alcan Inc. But the excitement waned after a media report that Greenspan expressed concern that China’s stock market — which has recently been hitting record highs — could eventually see a sharp decline.
I’m sorry, Greenspan is an idiot. It wasn’t that long ago that he was recommending people get ARM’s at the very low of the interest rate cycle. Not to mention what he did to the value of the dollar during his tenure.
