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To: bill meehan who wrote (16655)	1/21/1999 2:18:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 86076

bill, enjoyed your comments yesterday. thanks for indulging our zany humor and responding to some of the insane asylum inhabitants on this thread. they all mean well. mike

To: bill meehan who wrote (16655)	1/21/1999 2:27:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

Bill, went home early last night to watch you on CNBS err CNBC. It was good to hear you opinions first hand. Within a matter of hours my respect for you has doubled just like and like an internut stock. -g-Normally they take extra pain to discredit someone who gives a negative opinion on the market. They didn't, in your case - they must respect you a lot. <<The Fed will not ease at the drop of a hat (or an emerging economy). >> Interesting. What makes you think they won't. Usual suspect - like falling buck?

To: bill meehan who wrote (16655)	1/21/1999 2:33:00 PM
From: accountclosed	Respond to of 86076

Market negative is good from our point of view. You are making a much more subtle read on this than I was. Are you saying that the markets are more stable due to significant unwinding of derivatives and leverage? That a significant lesson was learned in Russia? So that positive for the markets has to be weighed against the fact that the Fed might not lower rates in any external international shock type event. So are you saying that although the markets are more stable, the fact that the Fed might not come to the rescue is a more important factor? Also so when you say Greenspan gave the green light, are you saying the green light for the free market to operate without intervention in either direction? This being a Fed Watcher thing is a tough job. He talks out of so many sides of his mouth. To me he clearly said the market was too high....but then clarified that the height of markets was never the Fed's primary mission.

To: bill meehan who wrote (16655)	1/21/1999 3:47:00 PM
From: accountclosed	Respond to of 86076

Here is the rest of the story on Poole's comments. This is more where I was coming from originally; Brazil could potentially be a bigger problem. And all sorts of financial imbalances.. Brazil much more serious for US than Russia -Poole The Brazilian situation is potentially much more serious for the United States than the Russian situation, but the market has responded in a measured way to Brazil,'' Poole told the St. Louis Society of Financial Analysts. But then an interesting final word Investors have taken the Brazil situation in stride. The puzzle to me is not the market reaction to Brazil this month but the reaction to Russia last August,'' the St. Louis Fed president added. biz.yahoo.com