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Politics : PRESIDENT GEORGE W. BUSH
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To: Nadine Carroll who wrote (135382)4/4/2001 12:59:36 AM
From: Kevin Rose  Read Replies (1) of 769670
 
Thanks for the thoughtful reply. There have been too few of them here lately.

I guess I'm advocating a tonic for the hangover. Maybe just a Bloody Mary. More importantly, something to reverse the contraction before it does real damage.

In reality, a 75 basis cut at the last meeting would have been little different than the 50 basis cut, as far as pure economics. However, it would have allowed the market to regroup and form a base. I do not believe it would have caused a significant rebound, and certainly not a return of 'irrational exuberance'. It would have merely given the market a ledge to land on. He could have taken the extra 25 bps out of a future cut.

And sometimes hair of the dog will get ya through the day.
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