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To: KyrosL who wrote (8454)	9/7/2001 8:55:38 PM
From: TobagoJack	Respond to of 74559

Hi KyrosL, The idea of FED buying corporate bonds feels wrong, intuitively, absolutely, and should be resisted until its proponents can explain why it is better than a simple tax rebate or a less simple tax cut. The FED, per se, does not know how to invest in corporates, and will have to hire a new bureaucracy to do so, or sub-contract, as Bishops Estate does in Hawaii, resulting in, well ... badness. I do concede that should the FED be able to buy corporate securities, the path of intervention will be much shorter than it is now, with the FED able to directly reducing cost of corporate borrowing, and more importantly, the availability of corporate borrowing, and more directly influence, at least temporarily, the equity prices of these same corporates. If so, then may be time to say goodbye to WTO, and chao to the USD. Chugs, Jay