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To: Trey McAtee who wrote (55593)	10/15/1998 9:48:00 PM
From: Linda Kaplan	Read Replies (1) \| Respond to of 58727

Actually, X predicted it. --L

To: Trey McAtee who wrote (55593)	10/15/1998 10:05:00 PM
From: ratan lal	Respond to of 58727

IMHO, the fed has just created a long term bear. And signalled the problems are deeper than they even imagined last month PERHAPS cuased by the HEDGE FUNDS with LTCG being the daddy of them all (I believe the promoters of LTCG are buddies of fed chair and other fed govs.).

To: Trey McAtee who wrote (55593)	10/15/1998 10:32:00 PM
From: John Sikora	Read Replies (2) \| Respond to of 58727

Trey, I believe the 25 basis point move a couple weeks ago did nothing to convince people that the FED was truly cognizant of the severity of the potential slowdown...By acting today the signal was clear that the FED is officially aware... and in the ease mode... and willing to provide liquidity...Thus we got a 300 point sigh of relief...Does it cure any of the problems this market is trying to digest? Probably not...But in the short term the FED may be the only stabilizing factor this market can fall back on. Also by moving today the likelihood of another move in November increases...Today's move had a bit of drama wouldn't you say? Unfortunately IMO it only underscores the fragile nature of this global economic malaise... john