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I think that Mr. Brown is pointing Mr. Scheier to the treasury markets... They've been clearly pointing the way for some time now. And they made a clear statement yesterday... well in advance of today's action.
OM
---- you wrote:
> Scheier: Perhaps Mr. Greenspan simply forgot your phone number. How rude
> of him. :-)
> Regards, Jack.
> ----- Original Message -----
> From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
> To: "scheier" <scheier@xxxxxxxxx>
> Cc: "Omega Users List" <omega-list@xxxxxxxxxx>
> Sent: Wednesday, January 03, 2001 12:46 PM
> Subject: Re: the Fed
>
>
> > Hello scheier,
> >
> > what you don't understand is that the market told you what would
> > happen BEFORE IT HAPPENED you were just not listening..
> >
> > s> I'm very lucky to be able to say I wasn't short the emini
> > s> nasdaq when this Fed announcement came out, but that was
> > s> by pure luck, as I was short twice on the way down for
> > s> moderate profits in what I thought was a normal day. In my
> > s> opinion, there is no excuse for the Fed to treat the market
> > s> and its participants in different manner for potentially bullish
> > s> news as it does for bearish. The right way for the Fed to behave
> > s> for such dramatic reversals of policy is giving small hints. This
> > s> intentional surprise treats such participants like market makers,
> > s> floor speculators, and specialists--who by nature must take short
> > s> positions as part of their daily role-- as if they were second class.
> >
> > s> I have previously held Mr. Greenspan in fairly high regard, but
> > s> must reconsider my opinion. This is an example of the Fed
> > s> playing god. That's not its role. It's role is to tweak. It's
> manner
> > s> should be humble. In this action, it places itself above the private
> > s> sector as if the corporate world of equity ownership were subservient
> > s> to the Fed's control. This is the ultimate disrespect. Some have
> > s> said they thought Mr. Greenspan should have gone some months ago
> > s> because of his lagging actions to leading indicators of a lagging
> > s> economy. I say he was doing exactly what he should have been
> > s> doing at that time. Now I find myself on the opposite side of
> > s> their opinions again. As they love him for his actions today, I
> > s> despise him for the thoughtless and even arrogant way in which
> > s> he has superseded his role.
> >
> > s> Scheier
> >
> >
> >
> > --
> > Best regards,
> > Mark Brown mailto:markbrown@xxxxxxxxxxxxx
> > Y = Offset + Amplitude * sin(Frequency * X)
> >
> >
> >
> >
>
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