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To: Bill Harmond who wrote (13051)	7/25/2002 12:21:44 PM
From: Mark Fowler	Read Replies (1) \| Respond to of 57684

Perhaps there's some forced liquidation going on somewhere<, I know Fmkt is not marginable at Schwab and it was downgraded by SwS securities today... taboo stuff in a bear market... biz.yahoo.com

To: Bill Harmond who wrote (13051)	7/25/2002 12:30:09 PM
From: Mark Fowler	Read Replies (1) \| Respond to of 57684

Tsm biz.yahoo.com Chang said corporate accounting scandals in the United States had dealt an unexpected blow to consumer confidence. "I think the reason why we see business conditions getting worse has a lot to do with this." Doing his part to restore confidence, Chang said TSMC's board of directors and supervisors would form an auditing committee with independent directors, who include MIT economist Lester Thurow and former BT Group Plc (London:BT.L - News) chief executive Peter Bonfield. TSMC's outside accountants hired to audit its books would work for the auditing committee instead of company management. Furthermore, Chang was confident business would improve sooner rather than later. "What we are seeing is a pause in the recovery. I strongly believe that the recovery is here," he said. TSMC said the main declines in demand came from makers of graphics chips, personal computer chipsets, and games -- reflecting weak sales of Microsoft's (Nasdaq:MSFT - News) XBox console. TSMC manufactures the XBox's graphics chip, which is designed by key customer NVidia (NasdaqNM:NVDA - News).