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To: Teri Garner who wrote (4188)	11/9/2000 9:06:08 PM
From: Jill	Respond to of 8925

Nice piece, thanx. (EOM)

To: Teri Garner who wrote (4188)	11/9/2000 10:55:23 PM
From: .Trev	Respond to of 8925

Excellent if depressing post. Tahnks! Cheers

To: Teri Garner who wrote (4188)	11/10/2000 12:53:17 AM
From: Lane Hall-Witt	Respond to of 8925

Teri: Thanks for posting the very interesting article about the collapse of the dot-coms. What has long seemed amazing to me is how confident and stable our markets and economy have remained, even in the midst of this carnage. The spreads on corporate bonds have widened some; the Nasdaq Comp and Nasdaq 100 have taken a hit, but haven't induced panic; most of the other major market indices have declined modestly; the IPO market experienced its annual season of weakness . . . and yet the fall of the dot-coms has mostly been a non-event in terms of our overall confidence in the financial system and the U.S. economy. I'm not sure what the overall capitalization of the U.S. equity markets was this spring, but I would estimate that the wipeout of $1.755 trillion in capitalization represents the destruction of perhaps 12-15 percent of the total value of those markets. That the markets are weathering such a hit, concentrated on just 280 of the 12,000 or so equities traded on U.S. markets, is remarkable to me. Let's hope the markets and the overall economy continue to hang tough!