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Pastimes : Home on the range where the buffalo roam
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To: pbull who wrote (9307)10/7/2002 12:33:51 AM
From: Sig  Read Replies (1) of 13815
 
Emergency Fed meeting?
That last "no-change" decision left investors with the impression that there nobody or no bank who would stand between him and complete disaster.
With the aged politician's Dow-dosed portfolios vanishing fast, I suspect Mr G. got a few hot phone calls.
I am not altogether happy about this, because I am major short, but I suspect the banks will now to go all out to
try to save the Dow, despite the fact the Fed said they dont really care about the markets, just the economy.
The Fed can do a lot more than just change rates- they can spread the word to lesser banks to loosen up on loans to distressed telecoms for example.
Sig
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