FWD: Roach sees relief

[DICKENS, EDWIN (973)-408-3024]

Roach calling for an easing of U.S. monetary policy is just talking Morgan 
Stanley's book.  Roach says to ease now would repeat what the Fed did in 
the wake of the 87 crash, but there is a big difference between what 
happened in 87 and what is happening now.  In Oct. 87, the Fed was 
aggressively raising interest rates.  In this case, the Fed hasn't raised 
rates in over a year.  This suggests to me that the current situation is 
not a liquidity crisis.

Edwin Dickens

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Subject: Roach sees relief
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