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To: Maurice Winn who wrote (24818)	10/31/2002 8:41:28 PM
From: TobagoJack	Respond to of 74559

Hi Maurice, <<I wonder what the heck is behind it all ...>> A wager on NLY is a bet on its managers. <<... and supporting it - keeping it aloft>> is Greensputin's yield curve, and nothing more. <<I wonder what will happen when push comes to shove>> But according to you push will never come to shove, as inflation will not cause Greenspudnik to raise short rate. <<I guess I'm too stupid to understand sophisticated financial instruments like that>> Then try this ... Message 18181503 Chugs, Jay

To: Maurice Winn who wrote (24818)	10/31/2002 9:35:27 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hi Maurice, But not this ... ;0) news.ft.com China backs homegrown 3G technology By James Kynge in Beijing Published: October 31 2002 21:59 \| Last Updated: October 31 2002 21:59 .l { visibility: hidden; display: block; } China's government has swung its support behind homegrown third-generation mobile phone technology, promising funds for its development, earmarking a dedicated radio spectrum for its use and guiding other domestic companies to develop handsets and other products to support it. Zhou Huan, president of Datang, the state-owned Chinese company that is jointly developing the TD-SCDMA with Siemens, the German corporation, said that the technology was more flexible, cheaper and could handle bigger volumes than WCDMA and CDMA2000, 3G technologies developed by European and US companies respectively. "Nobody believed in us [in 1999 when China first announced its development of TD-SCDMA]," said Mr Zhou. Now, he said, the technology is on track to be launched commercially in late 2004. An executive at Siemens, which shares TD-SCDMA technology with Datang, said commercialisation could be achieved as early as next year. Third-generation technology allows people to send pictures, music and other information at high speeds using mobile phones. Peter Lovelock, head of MFC Insight in Beijing, a consultancy, said Chinese researchers had made "tremendous leaps and bounds to get the techology this far" but he cautioned that late 2004 was "very ambitious" for a launch date. Both WCDMA and CDMA2000 are expected to be commercially ready before late 2004, and could therefore steal a march if Beijing agrees to the roll-out of 3G standards before Datang is ready. The Ministry of Information Industry may delay 3G licensing until the TD-SCDMA technology is mature, some analysts said. Mr Zhou said TD-SCDMA signals in tests had carried successfully for 16km. Other Chinese telecoms equipment manufacturers, such as Huawei and ZTE, have entered an alliance to develop products for the standard. Nokia, the Finnish equipment company, Texas Instruments of the US and LG of South Korea have entered a venture with Datang in Shanghai to develop handsets and chipsets for TD-SCDMA, Mr Zhou said. Siemens and Datang have not yet decided whether to roll out TD-SCDMA technology together or separately following its commercialisation, a Siemens executive said.