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Politics : PRESIDENT GEORGE W. BUSH
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To: flatsville who wrote (44998)10/11/2000 1:35:15 PM
From: Neocon  Read Replies (1) of 769668
 
The stability of the market does not depend upon whether or not shares in a fund are bought on margin, but on whether too much irresponsible cash is being thrown around, generally. The SEC was established to make various rules to stabilize the market, and it has, indeed, been more stable.

You are, of course, correct that people close to retirement would have been hurt pretty badly. I suppose that this is why the first proposal is for a mere sixth of one's contribution to go to private investment. It is actually pretty cautious, since most of the money still goes to conventional Social Security........
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