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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (74871)	1/31/2000 11:12:00 AM
From: Eggolas Moria	Read Replies (1) of 132070

That's just got to be one of those "Texan" sayings, right?<g> I just love them. Meanwhile, I've been doing some thinking (always dangerous) about the SEC disclosure to the WSJ last week that it was looking into the issue of margin debt at the request of the Federal Reserve. The timing of the announcement sure was interesting given Greenspan's testimony the previous day. I keep thinking that there is more to it than meets the eye. For example, I've been hearing from friends throughout the country that individuals are putting on home equity loans to purchase stocks (and then margin those). Now, if true, it would behoove the Fed to get an idea of amounts involved. In addition, the SEC might want to look into the issue of whether registered reps might be soliciting such business and how firms compensate it. No, I'm not saying that there is anything necessarily wrong or illegal involved. But it doesn't sound particularly prudent either. I suspect that the FED wants more information about the alleged practice before it does anything too drastic.

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