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To: L. Adam Latham who wrote (111874)	9/29/2000 8:35:28 PM
From: Scumbria	Read Replies (2) \| Respond to of 186894

Adam, As for blaming Gore, my opinion is that if he's going to take credit for the booming economy up until now, he's also going to have to take blame for it tanking. It was idiotic to make so many rate hikes in such a short period of time, before the effects could be evaluated. I am suspicious of AG's motivation in an election year. He did something similar in 1994, before the Congressional elections. Scumbria

To: L. Adam Latham who wrote (111874)	9/30/2000 12:19:52 AM
From: Jim McMannis	Respond to of 186894

RE:"I don't know what Jim's response will be, but I believe it is now clear in hindsight that the Fed's moves have been disastrous. There are announcements almost daily about companies blaming poor earnings on the interest rate hikes (including Daimler-Chrylser today)." I disagree. I think the rate hikes were too slow coming. This allowed the economy to over heat and people to suck up oil to the point of inflating it's price. It's not always possible to generate a soft landing. Boom cycles sometimes end in recessions. This is the greatest fear Wall Street has right now. This up side is that the FED can always cut rates... This will initiate the next bull leg in the market. As long as the slowdown has genuinely occured. RE:"As for blaming Gore, my opinion is that if he's going to take credit for the booming economy up until now, he's also going to have to take blame for it tanking." Actually, that's a good point. As long as he's takin' credit for the good times he should be a victim of the bad times. The fact that he won't is a trait of two faced politicians... Jim