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To: H James Morris who wrote (123970)	4/23/2001 10:46:17 AM
From: gladman	Respond to of 164684

The day of the Fed interest rate cut, Morgan Stanley was scheduled to issue $2.5 billion in bonds to raise money for itself. The Fed interest rate cut came 1?? hours before this offering. As a result, Morgan was able to increase the issuance to $6 billion, thus getting a gift from Mr. Greenspan of about $3.5 billion. Morgan Stanley has been hit hard with junk bond defaults and now may be hit again with the Argentinian bond problems. They needed the money fast. I'm sure they say, "thank you Dr. Greenie."