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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: B.REVERE who wrote (55928)	1/9/2001 6:27:15 PM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

M. Stanley's Biggs Sees 'Scared' Fed, 'Serious' Recession NEW YORK (Dow Jones)--Federal Reserve Chairman Alan Greenspan must be "scared to death," according to Barton Biggs, chief global strategist at Morgan Stanley Dean Witter. Greenspan's 50-basis-point cut in the fed-funds target rate on Jan. 3 gave the markets the "most powerful stimulus" he could have given them, and the markets' positive reaction lasted what seemed like "two minutes," Biggs told CNBC in a Tuesday interview. Now, he may be worried about what to do next, Biggs said. Early signals indicate Greenspan & Co. will cut the discount rate another 50 basis points at the Fed's next meeting at the end of January, Biggs said. Markets are telling the Fed chief that he is "still behind the curve," and the U.S. economy is "weaker than the consensus expects," said Biggs. Biggs said he thinks Greenspan would be wise to advise president-elect George W. Bush to implement a retroactive tax cut as soon as possible. This being said, he noted that the markets appear to be setting up for a "significant rally," and said the U.S. could "easily have a 50% rally." The Nasdaq could rally from depths around 2000 to the 3000 point range, he said. {Editorial Note:The possibility of a 50% rally seems to be required when ever the boyz use the r word. Not to mention that at least today the NAZ closed at 2400. So I guess what he means is after we go to 2000 we will have a 50% retrace and then have the real TL & EV} However, he said he doesn't think "the Fed has done enough yet," and authorities haven't recognized the economy is already in a "serious" recession. Plus, the valuations of the "sacred cows in tech," while they have come down a bit, are still too high, he said. -K. Maxwell Murphy; Dow Jones Newswires; 201-938-5173; maxwell.murphy@dowjones.com 01/09/2001 Dow Jones News Services (Copyright © 2001 Dow Jones & Company, Inc.)

To: B.REVERE who wrote (55928)	1/9/2001 6:30:38 PM
From: patron_anejo_por_favor	Respond to of 436258

HO HO HO! Why doesn't this surprise me?<NG>

To: B.REVERE who wrote (55928)	1/9/2001 6:36:30 PM
From: Sunny Jim	Read Replies (1) \| Respond to of 436258

<<Harpo and others selling into their bs recos>> It's amazing to me how they get away with that. It is clearly a sophomoric form of stock manipulation and fraud, yet the SEC refuses to acknowledge it. Several years back, Jeff Vinik touted MU like crazy and at the same time was liquidating it out of his Fidelity portfolio. I wrote the SEC and got the response that "Vinik received no personal gain from it" so he didn't break the law. Pure "look the other way" in my opinion. What do they think his bonus was calculated on, his looks? If an SEC investigation shows that someone of influence touts and sells pesonally or out of a fund they manage, or touts and recommends selling to anyone else(like a preferred client), they ought to be prosecuted to the fullest extent of the law. It is clearly fraud IMO, and it harms the working of a free market as well as the small investor.