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To: Andrew Williams who wrote (71740)	1/20/1999 11:20:00 PM
From: Jim McMannis	Respond to of 186894

RE:"If ever a liquidity crisis arose, the treasury could just repurchase treasuries." What the heck to you think Greenspan did in 1987 to provide liquidity in the days following the stock market crash....? Bonds were lock limit up for 3 days... When you figure out how he did it you will realize who is the "Genius" and Clinton was no where in sight... Of course, we won't mention who raised rates and helped crash the market in the first place. Actually, buying back treasuries is one way the FED and manipulate rates. Regards, Jim