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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: HairBall who wrote (41062)	2/23/2000 1:37:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

LG, i agree with your assessment. somehow i'm still not getting why Greenspan steadfastly refuses to raise margin requirements. the Fed got that particular weapon in it's arsenal after the '29 crash in order to stop rank speculation. i don't buy any of the explanations put forth by Greenspan as to why he won't use it. imo WS has told the Fed that they would instigate a crash that way. it's the only explanation i can come up with. after all raising margin requirements works perfectly well in the commodities futures markets, and pre 1974 the Fed regularly made use of it's power to change them. as far as i can tell, the changes DID have an effect on the markets. right now, legitimate ("old era") businesses see their life support cut off, while malinvestment on a grand scale in the "new economy" cos is promoted. for the life of me i can't figure out the reasoning behind this, which means you are 100% right: it's all about lining the pockets of the WS insiders. regards, hb

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