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To: D.J.Smyth who wrote (65750)	9/16/1998 3:00:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 176387

Mulling over Greenspeak! It is almost an hour into the testimony so far Greenspan and Co haven't said much as usual except that there is no concerted effort on G7's part to reduce rate,which by the way we already knew from earlier news releases from G7,and that it is important to fully fund the IMF before the Congress adjourns. Other than than that there was a lot of joking around which is always good to lighten up the crowd since a few of the people in the committee seemed as though they haven't a clue what Greenspan (or Rubin) is saying,either that or they don't understand what the heck is going on as the matter at hand seemed above their grasp. The market wanted to hear something straight forward and positive about the rate cut from Greenspan but they should have known better by now.