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To: Sonny McWilliams who wrote (26845)	3/22/2001 2:59:37 AM
From: Scott Bergquist	Read Replies (2) \| Respond to of 27012

Go read the WSJ Arthur Laffer on interest rates for March 22. Banks barely borrow from the Fed. The Market was going to sell off regardless of the Fed move. And 50-point change was all Greespan could do. With 75-points, the banks could borrow below 3-month T-bill rate, and use the money to buy T-bills and profit on the differential. The money supply is what caused the market to zoom in 2000. Marketwise, we aren't too much below mid-1999, and everyone acts like it's 1932. If you had Chevron stock instead of eToys, you would not be any poorer than 1999. It is NOT the Fed's job to make you money in the stock market!

To: Sonny McWilliams who wrote (26845)	3/22/2001 8:49:11 AM
From: William Hunt	Read Replies (1) \| Respond to of 27012

Sonny ---I agree ---it looks like their is a general buyers strike by the funds in the market . Wonder if they are the ones shorting the market to bring it back to levels they want and then start the process all over again ? I have been in the market for twenty years and have never seeen this one before ---their is one heck of a lot of cash on the sidelines . I am not selling ---will be here for a while BEST WISHES BILL