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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (18921)	2/20/2001 9:33:18 PM
From: MIKE REDDERT	Read Replies (1) \| Respond to of 24042

<Very dangerous for the FED to use the market as a reason to lower rates! > I disagree... if the Fed allows this mkt to gain any further momentum to the downside, they will find it very difficult to step in the way of the freight train represented by the magnitude of monies invested our markets. I remember when Greenspan collapsed the markets in 1987, and while everyone gloats about how well the Fed pulled it out (hindsight), they were within a gnats whisker of a total financial collapse... there was total panic and NO buyers. Brokers refused to answer their phones and MM's and specialists refused to provide a market (this latter phenomenon is happening right now, only in a more controlled manner). Even when the Fed gave them money to buy stocks, they bought T-Bills instead. And that was a relatively short term event... imagine what would happen now if that were to occur, with most of the big techs already down over 70%...severe damage to the sectors of the economy, and the companies, that were most responsible for the duration and productivity of this expansion. What is the logic behind pushing the markets off a cliff and then hoping that you can catch the problem that you caused before you have a catastrophe ? Why fight the imaginary demons of Y2K and yet ignore the real demons in your midst ? This has been Greenspan's history... create disaster, and then step to the rescue. Let's all hope that he continues to have the "luck" that he has had in the past. This particular Fed has become increasingly arrogant in their abilities to stem disaster. I think that's what bothers me most. Mike