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To: tech who wrote (2696)11/12/1997 3:32:00 AM
From: Bill Harmond  Read Replies (1) | Respond to of 27307
 
>>You must not know anything about how the market works.

Maybe so.

Nevertheless, you can bet that Greenspan isn't sleeping much tonight. His people are on the horn advising member banks that the Fed will supply as much liquidity as the market needs to keep the payment mechanisms sound. His first duty is to insure stability to the financial system. Otherwise inflation will be the least of his problems.

Greenspan himself lowered rates in 1987. He'll do it again if he thinks it's necessary.