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To: GST who wrote (73220)	8/11/1999 1:38:00 PM
From: Robert Rose	Read Replies (1) \| Respond to of 164684

gst. too bad the rumor has already been discounted. We'll just have to settle for 5% on nem today. ps. Check out the volume! Another strong day!

To: GST who wrote (73220)	8/11/1999 1:48:00 PM
From: Eric Wells	Respond to of 164684

>>I wonder if this rumor has any merit? >>Why would he step down? I really don't know. And I really have no inclination to believe the rumor. But I could speculate on a few possible reasons why Greenspan might be motivated to resign: 1. He's in his 70's (I believe) and perhaps he wishes to retire, or seek a less contentious position. 2. He doesn't want to be blamed for the market crash (assuming there is one) - you'll recall the Japanese official (can't remember his position or his name) that recently resigned stating he didn't want to be around to watch the US bubble burst. 3. I believe his term is officially up next June or July - and there may be rumors floating around Washington that he will be replaced. He may view this as an affront and has decided to leave early. Anyway, this is pure speculation. I could easily speculate that there is no chance that he would resign - that he would see it as his duty to serve out the rest of his term. By the way, it's interesting to note that it appears the market is currently attempting to rally. Yet as I type there is a treasury auction taking place for 10-year notes - and judging from the long bond interest rate (up 16 basis points), I would guess that the auction is not going well. -Eric