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To: Charles Tutt who wrote (1505)	7/24/2002 2:41:00 PM
From: MeDroogies	Read Replies (2) \| Respond to of 4345

oops, that would be correct sir. I think at this point the only thing that people fear is that their money is going away to some magical LALA land. Rates are a proxy for economic conditions, which hold sway over the market. Margin requirements only represent the market, which everyone knows is in bad shape. By pressing there, nobody would be surprised and I think the general assumption would be that the Fed was just acting to protect leveraged accounts. That's not a bad thing. That said, the decline has been orderly. So maybe nothing really needs to be done anyway.