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To: Trumptown who wrote (43815)	12/19/2000 5:36:17 PM
From: Smart_Money	Read Replies (1) \| Respond to of 57584

CSCO skid under 40.....man o'man

To: Trumptown who wrote (43815)	12/19/2000 5:46:18 PM
From: Joe Smith	Read Replies (1) \| Respond to of 57584

I think the big problem was too much liquidity last Winter for Y2K. Set off such a bubble that it was impossible to land it softly in Greenie's opinion. The balloon just got too high. If you want the business cycle to become extinct and you do not want recessions, then you cannot have 8% growth and 3.9% unemployment either, once again in Greenie's opinion. I think today's easing stance was a significant move from last week where he telegraphed a neutral stance. By causing a mild crisis now, he may think that he is preventing the banks and telcos from overextending themselves even more and creating even more of a crisis later. This is tough on businesses that bought into the expansionist policies of last Winter. I think that he may be making the best of a bad situation that he caused last Winter. Money was just too easy.