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To: Lee who wrote (2056)	8/13/1999 10:30:00 AM
From: Chip McVickar	Respond to of 3536

Yup... I look back to the first time I logged on to the internet and said, "WOW" Silicone Investor is great. This is going some place and bought a thousand shares of AOL and Yahoo in the single digets. But it never happened that way<<smile>> My problem is that I'm not a Blue Blood Consumer and don't look at the internet as having any retail driven potential. So far I'm wrong? Chip

To: Lee who wrote (2056)	8/13/1999 10:47:00 PM
From: JF Quinnelly	Respond to of 3536

"Disintermediation" means the removing of funds from a bank, an S&L, a financial "intermediary". We witnessed disintermediation back when Regulation Q fixed interest rates on bank deposits at 5%, at a time when money market funds would pay you much more. So people pulled their money out of savings and put it in MM funds. Since banks make loans based upon their deposits, disintermediation has the effect of drying up loans in the banking system.