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To: H James Morris who wrote (143542)	7/2/2002 2:10:36 PM
From: GST	Respond to of 164684

We are probably just entering the stage of aggressive liquidation of equity funds by retail investors. The potential for further downside is stunning: "In the hedge funds we started shorting IBM and GE back in April. Now we are shorting Computer Sciences . . . We are also shorting Amazon. Revenue recognition for a company like Amazon is so difficult." Referring to issues such as GE's (perfectly legal) trick of drawing down pension fund surpluses to bolster its bottom line, Gartmore's Mr Melluish adds: "A lot of these things have been in the public frame if people wanted to look."

To: H James Morris who wrote (143542)	7/2/2002 2:38:21 PM
From: GST	Read Replies (1) \| Respond to of 164684

Here is a story we can all relate to: nypost.com

To: H James Morris who wrote (143542)	7/2/2002 3:21:56 PM
From: craig crawford	Read Replies (1) \| Respond to of 164684

7:24AM JP Morgan, Citigroup may face new probe over Enron dealings : The Wall Street Journal reports that Manhattan's D.A. may invoke the same arcane state law that Eliot Spitzer used to win the MER settlement to prosecute JPM and C over their Enron dealings. Legal experts say a prosecution by the Manhattan D.A. based on New York's 1921 Martin Act could conceivably pose a more serious threat to the two banks than even a civil SEC probe, which already is under way.