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To: dppl who wrote (20153)3/9/1999 8:07:00 AM
From: j g cordes  Respond to of 69928
 
Almost.. <g> not a fundamentalist but a compartmentalist!
Yes, spare a dime liquidity is the rule of valuation on Wall Street.
In fact there's a valve at the Fed which only the highest level of monetary pontificists control. The pressure guage attached to it is calibrated in PE units. It monitors flow from the government printing presses and has only three instructions.

A. open valve more for Y2k bank runs
B. open valve more for overseas market stability
C. open valve more to float consumer prosperity

There's a vague rumor the valve came with a second set of instructions which accidentally ended up on the Valdez oil tanker.