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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Skeeter Bug who wrote (177680)1/18/2009 12:23:07 PM
From: James HuttonRead Replies (3) of 306849
 
Ok, so the best fact you can provide is that Bill Clinton fabricated a new economy or productivity miracle (that didn't exist) by knowing it was happening and allowing it. And now you say that Bill Clinton didn't really "usher" ("usher" is a verb that means to precede and introduce) this period in (as you said at least once or twice before) or fabricate it, because Reagan had some culpability.

OK. Thanks for explaining.

"i don't believe anyone *wanted* to leverage 35-1 until *after* bill clinton's bubble economy was instituted . . ."

You're right. All Wall Street traders and IBs hated margin and shunned any use of leverage until Bill Clinton (a/k/a Svengali) ginned up an economy that later forced the SEC to change the net capital requirements, which forced IBs to max out their leverage against their better judgment. I remember the quote from one IB trader, "That SOB Cox has loosened capital requirements. Here I've been trying to make a seven figure bonus living on just putting up 1/10 of my firm's money. Now I have to try for eight figures and can only put up 1/35 or 1/40 equity, and that sucks. How can I perform my job under these conditions? It's all Bill Clinton's fault."

So once again you're right.



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