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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bill F. who wrote (64015)	7/5/1999 2:20:00 PM
From: Skeeter Bug	Respond to of 132070

wouldn't be surprised if he lowered them. bubbleboy is out of control, imho.

To: Bill F. who wrote (64015)	7/5/1999 3:04:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Well, I have been wrong about so many things that I wouldn't be much chagrined to be wrong about this. It is true that in the two years since the "exuberance" remark, he has usually tried to suggest that the capital markets are fundamentally sound and self-regulating. But if the Fed ever decides to deal in substance rather than gestures, a raise in margin rates would be a substantial change that they have complete authority to make, and they could do it without explanation or apology if they chose. Another possibility would be that for some reason oil exporters would really get their act together and get oil back up to $30+. That would take care of the bubble pretty quick, I think, and leave the Fed with the scapegoat that it wants.