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Non-Tech : General Electric (GE)

GE 298.52

+0.6%

12:59 PM EST

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To: Arthur Tang who wrote (1794)	3/17/2001 10:48:54 AM
From: Captain Jack	Read Replies (1) of 3256

Art-- IMO things will get uglier AFTER Greenspan makes another attempt to remediate his rate increasing debacle. On Tuesday he will drop rates 1/2%. The mkts will feel that is not enough and sell off. If he were to drop 3/4% there would be a small rally that people would sell into which would cause panic and create a selloff. If he would drop a full % the realization of just how badly he has screwed up would hit home to all and would create a selloff. No matter what he does he will not be able to correct, slow, or stabilize the fiasco he created last year for a very long time. There is no faith left in the FED and he has become a joke,,, but the ONLY joker in the stacked deck right now. Since the mkts begin to move about 6 months prior to the recovery we may see some positive movement in early '02. If AG was man enough to admit he screwed up instead of being in a senile state of denilal there could be some faith brought back concerning his limited ability to correct the situation which would help.

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