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Politics : Ask Michael Burke

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To: James R. Barrett who wrote ()	1/28/2000 1:16:00 PM
From: Eggolas Moria	Read Replies (2) of 132070

A true story margin nightmare: A gentleman who owned approx. 16,000 shares of QCOM ($6.25 cost basis) on margin (2.5 mill value vs. 1.0 debt at the high), began buying additional otc stocks this January using the QCOM as margin. Yesterday came the margin call. Today, came the liquidation. Net value of acct - zero. The announcement today in the WSJ about the SEC looking at margin debt at the request of the Federal Reserve should be ringing a bell . . . somewhere.

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