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To: royco who wrote (24113)	7/27/1999 5:58:00 PM
From: Gerald Walls	Respond to of 27012

Alan G. If he were serious about market excesses then he'd raise margin requirements. If he did that then I'd be out of everything in the amount of time it took me to enter my orders.

To: royco who wrote (24113)	7/27/1999 7:21:00 PM
From: Sonny McWilliams	Read Replies (1) \| Respond to of 27012

Royco. Yes. It's hard to teach an old dog new tricks. He always worries about excesses in the markets. I guess it comes from being the son of a stock broker. He seems to think that if he puts a little question mark into his speeches the bond market rates will go higher and take care of inflation. You have to read between the lines. But I do agree with all that think we DO NOT NEED an interest rate hike now or that we needed one when he raised it. But still, he has done a great job with the economy. Without him the markets would not be at this level. Yes, I know. He is only a part of the reason. But THE BIG ONE despite his shortcomings. Shortcomings. NO SUCH THING ON OUR END. gg. Again. Let's hope his speech will be a dovey one tomorrow since he already accomplished part of what he set out to do. Sonny