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To: dennis michael patterson who wrote (52737)	9/15/1998 9:28:00 PM
From: B.REVERE	Respond to of 58727

Dennis, when it comes to reality, sometimes it counts but not on CNBC. CNBC has done a masterful job of selling the public the idea that even though the world's economies are going to hell in a hand basket, the public's money is better spent on stock purchases rather than in the bank. Two examples of their veiled censureship methods were in full glory today. When Soros come on around 2:30 and started telling the world about financial blowups all over the world, the market started a slow fade to unchanged. When Soros opened the floor for questions, Insane was brought back in and the market started back up to its inevitable close. If Soros had stayed on, the market would have closed severely down. CNBC is controlling the sound bites that the w/s mm's want the world to hear and any negative publicity is quickly dismissed. A former fed secretary familiar with world markets was interviewed about 3:30. When he said," There are public officials who know how bad the world economies really are but they are remaining anonymous because they are afraid of global market repercussions", Insane had no folllowup and quickly said goodby. It is this type of blatant manipulation by the media that allows markets to go "up" when all fundamental logic and analysis says "no way". Analysts parade up and down all day saying that " now " is a good time to buy because of the recent "correction". I say b/s. Earnings estimates are now barely above zero for this quarter after being as high as 11-14% three months ago according to First Call. The markets p/e valuations are still just as high as they were in July because of these lowered earnings expectations. This analysis is never mentioned, it's buy now or you'll miss the boat. This market will implode when earnings come out in October, especially the financials. I feel sorry for all the sheep that follow this unrelenting parade of shysters who have no clue other than to fleece the public for as much they can for as long as they can. When this party is over, they'll have a lot of the publics' 401k money in their bank accounts and that's a damn shame. Wonder who spread this one? CNBC's Insane couldn't bring it up enough today. Whoever he was talking to, he always asked what they thought of this. No one heard of it except Insane. Another CNBC rumor started by them. Later, BR WASHINGTON, Sept 15 (Reuters) - A U.S. official on Tuesday played down the idea that the international financial community could be readying a massive rescue deal for Latin America and said he had ''no idea'' where the rumor originated. ''We have no idea where this is coming from,'' said the official, who asked not to be identified. Rumors that international lenders might be preparing a large rescue package pushed shares sharply higher on Tuesday. Some market participants said the rescue deal could be for $100 billion or more, including money from international financial institutions.