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To: Shack who wrote (61611)	1/25/2001 1:12:36 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

lots is going into the credit markets. e.g. Ford issued over $7 billion in notes, DCX did the same. they'd be running out of cash otherwise. in January a huge amount of refinancing activity took place thus far. in '98 and '99 the effect on the stock market was virtually instantaneous, and the same has been the case now. however, the economy was roaring along just fine in those earlier instances, whereas it is tanking now. and that makes it doubtful that the charade can be sustained this time around.