Jude Wanniski
September 25, 2004


From: Jude Wanniski  <        
To:      Ben.S.Bernanke@ * * * * *.GOV                                               
Subject: commentary
X-Attachments: C:\Documents and Settings\jw\My Documents\bernanke.2.doc;

As promised. I hope you find this of interest and do not take offense with my differences. I do plan to advise my clients that this commentary is available and that I will send it to them at their request. I'm not planning a general broadcast at this time. Please feel free to respond and know I will not circulate your comments or questions.... unless you give me permission on specific requests. Of course I do not want to lose your confidence in the privacy of this exchange.