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To: mishedlo who wrote (258178)	8/30/2003 12:20:29 AM
From: SeaViewer	Respond to of 436258

People are betting its down. My guess is nothing happen.

To: mishedlo who wrote (258178)	8/30/2003 12:23:07 AM
From: mishedlo	Read Replies (1) \| Respond to of 436258

You are the second person to suggest nothing. I think it is likley to be something but I have no ide the direction. Perhaps a reversal but I think something. If wrong, it wil not be the first time M

To: mishedlo who wrote (258178)	8/30/2003 6:59:55 AM
From: Earlie	Read Replies (1) \| Respond to of 436258

Mish: I may be wrong, but I think that put buying relates to Greenspan's speech of yesterday. Greenspan made a speech that all of us can (for a change) understand. It was not his usual turgid rhetoric. In fact, it was relatively straightforward and easily understood. The message of that speech was that the Fed is run by men who pull their pants on one leg at a time (i.e., they are humans, not gods). It went on to note that the Fed's models are just that.... models and that models are frequently too simplistic to deal with a complex world. It further noted that "judgement" is a key part of Fed decision making. Finally, it suggested that avoiding the big risks tends to be a definitive aspect of what the fed is and should be doing. Maudlin has a superb analysis of the speech. It is worth checking out. He applauds the Fed for communicating clearly and for admitting that we live in a complex world where policy decisions are difficult and where the policy makers must be aware of unintended consequences. Having perused the speech, one could easily see how many might be disquieted by it. Best, Earlie