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To: Les H who wrote (134422)	11/14/2001 12:13:13 PM
From: Ken98	Read Replies (2) \| Respond to of 436258

Another mondo coupon pass: <<Fed adds $2.09 bln in permanent bank reserves (UPDATE: Adds volume) NEW YORK, Nov 14 (Reuters) - The Federal Reserve said on Wednesday it added $2.090 billion in permanent banking reserves by buying U.S. Treasury bills dated Dec. 20, 2001 through May 16, 2002 on the open market. Earlier, the Fed added $2.75 billion in temporary banking reserves via overnight fixed system repurchase agreements. The Fed accepted the following collateral for that operation: -- Treasuries: $0.600 billion, stop out 2.08 percent -- Agencies: $0.185 billion, stop out 2.11 percent -- MBS: $1.965 billion, stop out 2.12 percent>> Note again the composition of primarily MBS in the repo. Note also the VERY short maturities on the coupon pass. Interesting...

To: Les H who wrote (134422)	11/14/2001 1:13:32 PM
From: Mike M2	Respond to of 436258

Les, i wonder if CNBS bothered to check what the financial planner had to say about tech stocks and the DOT.CON stocks when the Nasdaq was 5,000. I doubt it but put David tice on CNBS and they go out of their way to point out that he was bearish for quite some time. I recall ( quite a few years ago) hearing David Faber comment on a WSJ article on Fred Hickey and Faber said " Hickey has been wrong forever". Well the insanity went on far longer than almost anyone could have imagined but I am glad that I read Hickey rather than listen to the Wall St shills and be led to financial destruction ( TL & EV). Mike