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Politics : Foreign Affairs Discussion Group

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To: c.hinton who wrote (239577)	8/17/2007 8:37:47 AM
From: michael97123	Read Replies (2) of 281500

Benanke put on the market will protect it from extreme downside collapse that would have continued today. Today into monday may have put the Dow into the 11s. Now that fed is engaged and recognizes there is a problem, a bottom is in--not necessarily a bottom inthe indecies but a bottom in the range. We now have no uptick rule for shorts and shorts will be wiped out here because there are way too many. Prior to this cut liquidity fed was feeding into market was like pushing a string. Now there is targeted relief and they can always reduce this discount rate another 50 cents. At the same time they dont have to rush to cut the discount rate and can certainly wait for september

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