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To: David E. Taylor who wrote (4408)	3/23/2001 2:07:57 PM
From: Souze	Respond to of 6784

OT FWIW, I view Morgan's approach as a way to get around FD rules. I think the article talks about their european operation, and if so I don't know if FD applies there. It seems to me that if an analyst runs a proposed rating past the company being rated, and that company disagrees with the rating, the company will be hard put to argue without providing previously non-disclosed information. That's assuming that the analyst has done a creditable job with the public information, far from always the case. Anyway, that was my immediate reaction to the article and it stayed with me. Edit: At the very least it's an attempt to get a one-on-one dialog with the company, and that goes againt the FD regulation as I see it. BWDIK.