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To: Lucretius who wrote (176526)	6/30/2002 11:03:16 PM
From: Les H	Read Replies (2) \| Respond to of 436258

Isn't it in effect about the same intended effect as Pimpco's Gross wrote earlier? Raise the fed funds rate to try to make the mortgage rates dive further. Bet everything on the refi bubble.

To: Lucretius who wrote (176526)	6/30/2002 11:55:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

L. The article was so full of holes it made me want to puke. My favorite BS was S&P earning PE of 19. Total garbage. However, the basic point is valid IMO. We need to raise interest rates to have a semblance of a chance to halt the slide in the US$. That is my view and perhaps it is wrong, but the article as a whole was so full of horseshit it was hard not to laugh. As for dumbest? I disagree. At least the writer had a clue that falling interest rates is perhaps not the best thing. M