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To: marginmike who wrote (121011)	6/26/2002 6:29:37 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

The Fed doesn't buy stocks or corporate bonds. It does inject credit into the markets when necessary. The administration, however, can jawbone its friends in the investment community to get in there and buy something. This is probably the kind of action that stabilized the market by day's end. It's still a little distressing to see so little differentiation between well financed companies with manageable debt levels and companies that are so burdened with debt they could go belly up any day. Art