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To: limtex who wrote (17665)	12/26/2000 11:13:35 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 60323

Come on Limtex, the next thing you'll want is to burn AG at the stake. He is not operating on his own, nor does he make these decisions by himself, he has to build a consensus of the other Fed Governors. These change every year (the voters, I mean). You got to understand that the January/March huge explosion was itself created by the Fed, they pumped a lot of liquidity into the market, late in 1999, because they feared (it so happen for no good reason, but no one knew for sure) financial dislocations due to Y2k, before that, in late Autumn 1998 they were forced to open the spigot because of instability in Asia. Right now is the right time to reign in the money flow, and keep ammunition dry if Asia once more falters. The Naz is actually still too high if you follow the progression year over year. He certainly is not "targetting" the poor Naz (I think that the dow from here might have a more severe fall than the naz with companies there growing under 10% per year fetching PE's in the 30 and 40), he is just doing what the constitution gave him the power to do, control the monetary side of the equation for best balance and as Craig said, equilibrium. We as investors just must try and understand the inevitable and take appropriate steps. Zeev

To: limtex who wrote (17665)	12/27/2000 3:37:18 AM
From: JOHN N.	Read Replies (1) \| Respond to of 60323

Limtex; Don't you think that Greenspan is paying closer attention to the drop off of the DOW and really doesn't care what happens to the NASDAQ. After all, the DOW has only dropped around 8% so far and most major bear markets result in a drop off of around 20% for the DOW. Where do you think that the NASDAQ would be if the DOW drops to around 9000 which is what I think would constitute a major drop in Greenspans mind. When do you think that the DOW will drop off as the recession progresses? Do you or Zeev think that Greenspan will wait this long?