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To: marginmike who wrote (121018)	6/26/2002 8:09:06 PM
From: limtex	Respond to of 152472

mm - Oh if only. Wait till the the shorts find out that they are playing against the bank!!!!! Now that is going to be fun to watch. If the Fed really is in there then the market will lets say rebound a little!!!! There must be one of the greatest short positions in history at the moment and if that unwinds like a coiled spring then wow. Shorts will be a popping all over the place. Best, L

To: marginmike who wrote (121018)	6/27/2002 8:26:41 AM
From: Art Bechhoefer	Respond to of 152472

MM--Regarding Fed intervention in the markets, they don't do this directly but instead increase liquidity so that banks and investment firms can put more funds into stocks. So you are right in a sense that the Fed does make more money available for market intervention, but it doesn't do it directly. The only time that I can recall the government actually purchasing stock was during the Chrysler bailout, where the government provided money to Chrysler in exchange for stock, which the government eventually sold at a sizeable profit. To do this, the government required Congress to pass a law. Art