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Politics : Ask Michael Burke

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To: Don Lloyd who wrote (82698)	8/6/2000 6:27:38 PM
From: Bilow	Read Replies (1) of 132070

Hi Don Lloyd; I got interested in the state of the size of the margin loans back in the late 20s, and did more searching for figures from the Galbraith book. He says (p21) that by the end of 1928, the "call loan market" got to nearly $6 billion. It had been 1 to 1.5 billion in the early 20s. Any figure for the total market cap of late 1928? I guess there was about 100 mm people in the US at that time, so the total amount of margin money was about $60 per capita, but I don't have a feeling as to whether this was a lot of money back then. (But my guess is that it was quite a bit, given how much I remember McDonald's hamburgers as once costing.) -- Carl

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