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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (76238)11/18/1999 8:24:00 PM
From: KeepItSimple  Read Replies (1) of 86076
 
>My first impression was that it was just a joke.

It's quite obvious, really. The fed has realized that even with the printing presses running at full steam, it can't support the 5% daily rise in the Nasdaq. Something more is needed- and doubling the margin available to every man woman and child is just the answer.

You'd think they would have learned their lesson when LTCM blew up because of 100:1 margin games.. Now they're trying to let the average investor try the same sort of rampant speculation?

Either there is something behind the scenes going on here that I fail to comprehend, or most of our securities regulators and fed governors are simply smoking crack. I don't see any middle ground that can explain their behavior.

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