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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (12274)3/6/2000 11:11:00 PM
From: Dogbert  Read Replies (2) of 15132
 
Justa, re: margin rates I don't know who you use but the Broker Call rate which is the baseline most brokers use to tack on their markup has increased in lock step with the Fed's last 4 increases. I was paying 6.00% long ago, now 7.00%.

PS I think Greenspan is under pressure from the investment
banks/brokerages to not restrict margin since they make a huge amount of money from lending it out. Many of them pay 1% or 2% on excess credit balances to folks who don't even know the rate they get, then lend that out at 9.50% again to folks who don't care what rates they pay and never read their margin agreements. (If you are plan to make 20%/month gains who cares what the broker charges on your debt.) Schwab charges 9.50% on margin debits under $10K, stepping down to 8.00% on margin debits over $50K. Big profits which flow straight to the bottom line.
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