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To: Sergio H who wrote (9659)	9/5/2001 1:33:20 PM
From: James Strauss	Read Replies (1) \| Respond to of 13094

On another topic, would you care to elaborate on your views on Treasury Secretary O'neill? Particularly O'neill vs Rubin. Sergio: O'neill spent most of his life in the manufacturing sector where there is a dependance on exports... A cheaper dollar helps exports... That would explain his initial bias towards a weaker dollar regardless of what he is now saying... Rubin spent most of his life in the financial community where a strong dollar is recognized as a positive for investment in the U.S. from overseas and putting a cap on domestic inflation because U.S. manufacturers have to compete with cheaper foreign imports... The U.S. consumer is the winner... The market sees this distinction between O'neill and Rubin... It's not happy... If our dollar got much weaker, many countries would lose some of their export market share because the cheaper dollar would make our exports more attractive, thus sinking Japan and other countries who are grabbing for a lifeline... Jim