stty settings have no effect

[Tim Waugh]

Configuration Information [Automatically generated, do not change]:
Machine: i386
OS: linux-gnu
Compiler: i386-redhat-linux-gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='i386' 
-DCONF_OSTYPE='linux-gnu' -DCONF_MACHTYPE='i386-redhat-linux-gnu' 
-DCONF_VENDOR='redhat' -DSHELL -DHAVE_CONFIG_H  -I.  -I. -I./include -I./lib 
-D_GNU_SOURCE  -O2 -march=i386 -mcpu=i686
uname output: Linux meme.surrey.redhat.com 2.4.20-2 #1 Wed Dec 18 15:04:51 EST 
2002 i686 i686 i386 GNU/Linux
Machine Type: i386-redhat-linux-gnu

Bash Version: 2.05b
Patch Level: 0
Release Status: release

Description:
        Settings made with stty seem to have no effect.

Repeat-By:
        For example, 'stty erase d', and then type some letters, and then
        'd'.  A 'd' is shown, rather than acting as the erase character.
        Not sure if this is a readline problem or not.