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To: Tom Kearney who wrote (90583)	12/20/2000 4:16:23 PM
From: qwave	Read Replies (1) \| Respond to of 152472

If the markets were a hedge fund the FED would have bailed us out by now. What a bunch of crap. On the verge of a total meltdown and the FED doesn't cut. Where are our friends in high places??? Their all saying "Bend over. It will all be over soon".

To: Tom Kearney who wrote (90583)	12/20/2000 4:18:40 PM
From: Ibexx	Read Replies (1) \| Respond to of 152472

Tom, I think Fed's move yesterday - changing bias but not the rate - was a sound one. Only a few weeks ago the governors talked about inflationary threats and it would've created a credibility crisis had they authorized a cut. [Believe me, nothing would please me more than a lowered rate] On the other hand, given the market psychology the way it has been, I speculate that NAZ would've tanked anyway were the expected rate cut been in place. That would be DISASTROUS in my opinion. It may serve the lone-term better if the collective mental negativity gets flushed out, preferably all at once and not bits/pieces at a time. Cheers, Ibexx