Minutes from 1996 Fed meetings bear out

US - In the months leading up to Federal Reserve Chairman Alan Greenspan's famous 1996 warning of investor "irrational exuberance," then-Fed governor Lawrence Lindsey was the central bank's most vociferous internal proponent of the view that the stock market was a dangerous bubble.

At one point, Mr. Lindsey even urged having the Fed openly try to pop the bubble. The comments by Mr. Lindsey in closed-door Fed deliberations through 1996 were made public yesterday, as the central bank released fu