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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Crystal ball who wrote (43173)	8/25/1999 4:01:00 AM
From: KeepItSimple	Read Replies (2) \| Respond to of 94695

Actually, the reason greenspam increased the fed funds rate is because there's going to be a massive run on banks in the next few months as people withdraw billions in cold hard cash in advance of the Y2K. The banks of course, would be lucky to have 10% of investors funds in a liquid form, so they're going to have to borrow it from the fed when the depositors start lining up outside the doors. This info is direct from my pal back in NC who is a branch manager of First Union..

To: Crystal ball who wrote (43173)	8/25/1999 9:49:00 AM
From: Les H	Read Replies (1) \| Respond to of 94695

They lowered discount rates for the S&L crisis, not raised them: 7 percent - Jan 1. (in effect since Feb. 24, 1989) 6.5 percent - Dec. 18, 1990 6 percent - Feb. 1, 1991 5.5 percent - April 30, 1991 5 percent - Sept. 13, 1991 4.5 percent - Nov. 6, 1991 3.5 percent - Dec. 20, 1991 3 percent - July 2, 1992 The lowest short-term interest rates occurred before Clinton ever got into office as the S&L crisis extended the recession to the end of 1992.