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To: wily who wrote (8874)	10/22/1998 2:25:00 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 93625

fleckenstein has been consistently wrong in calling market direction, but, I tend to agree with him about the banks. They may fall under the "cock roach" theory, imo. You see one bad one and you know they're are hundreds hiding out. IMO, the Fed fell asleep at the wheel as far as easing was concerned. They've been looking in the rear view mirror still fighting the old inflation fight and the bond market just did it's thing without them. Now they are playing catch-up and trying to avert a major credit crunch. I expect to see a series of Fed easings. bp