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To: SBerglowe who wrote (47303)	4/19/2000 2:06:00 PM
From: SBerglowe	Respond to of 99985

More commentary: Marshall Auerback has served his International Perspective commentary at The Toulouse-Lautrec Table entitled, " HAS THE ?GREENSPAN PUT? BEEN TAKEN AWAY?" ?Financial institutions should expect to look to the central bank only in extremely rare situations.? (Alan Greenspan ? 14 April, 2000) "So characteristic has this pattern been over the past several years that there is now an increasing tendency to analyse it within the context of possible Fed support operations in the event of a precipitous decline of stock prices. Merrill Lynch wrote a report earlier this year (?Perception of a Free Put on Assets? ? Jan. 28, 2000) in which the firm acknowledged that the willingness of Greenspan?s Fed ?to avert a deepened crisis has strengthened a perception in the minds of investors of a downside floor on liquidity." <A HREF="http://www.LeMetropoleCafe.com/scripts/products.cfm">Le Metropole Cafe</A> All the best, Bill Murphy Le Patron www.LeMetropoleCafe.com