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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: chic_hearne who wrote (96528)4/19/2001 7:11:33 PM
From: pater tenebrarum   of 436258
 
well, since they SAID they wanted to prop the market (the disappearance of equity wealth was mentioned in the statement as one of the reasons for the cut), one must assume the real reason was actually not that. there were vague rumors (unconfirmed) today of a financial institution having run into trouble. that wouldn't surprise me...i'm in fact expecting it. also, there's probably a heavy borrowing calendar dead ahead...and the credit market stresses haven't disappeared. they're merely shifting around.
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