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To: Temple Williams who wrote (40289)	1/30/2000 6:06:00 PM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

Temple re It will be interesting to see what the margin calls you wrote about will do to the market Monday morning I suspect that if this become a major factor, it will cause the spike that I referred to in an earlier post. Re the Fed, yes, you are right that it is not usual for the fed to be activist in a big way in an election year, though it did happen in 91/92 to some extent and of course in 1980 if I recall correctly. But those were different times for sure with a whole different set of circumstances. The prevailing wisdom appears to be that they will do their tightening during the first half of the year -- so that they can stay above the fray as the election cycle heats up.