Mr Mann is back

30th June 1984, Page 24

30th June 1984

Page 24

Page 24, 30th June 1984 — Mr Mann is back

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Mr OLIVER asks howl arrived at my conclusion in my letter (CM May 26). Well, I'll tell him. Every article I have read about 'cowboys' equates them with rate cutting and if Mr Pygall's speech was correctly reported, I deduced (correctly, I hope) that he felt that the returns he quoted were too low. In other words, whoever set the rates to give

such low returns had set them below what was felt to be a reasonable rate — surely the fact of a 'cowboy'.

B. A. Mann Sudbury Suffolk