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STOCKTALK

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To: nextrade! who wrote (21948)	9/26/2000 9:01:08 PM
From: pater tenebrarum	Respond to of 436258

i would say most members of Congress and the Senate are probably not paragons of financial market savvy. but rest assured, both the Fed and the administration are acutely aware of the stock market's importance. this can be inferred by what actions are undertaken every time the market seems under grave stress. after all, with 50% of households invested, it becomes a concern of potential voters, and thus a concern for politicians. the Fed otoh has created the bubble in the first place, and the positive feedback loop has led to the long economic expansion that is the reason for much selfcongratulatory back-patting in these quarters lately. if the virtuous circle turns into a vicious one, guess who'll get the blame (after the 'bears' and short sellers of course).