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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Ian@SI who wrote (5425)5/28/1999 12:45:00 AM
From: Carl R.  Read Replies (2) of 15132
 
Whoa, Ian. The lawful mandate of the Fed does include maintaining orderly financial markets. The FED most certainly does have power to curb rampant speculation and unsustainable prices in financial markets if they perceive them to be a problem. In fact they have some special tools in their arsenal to deal with exactly that problem. Keep in mind that they determine the margin percentage for example. If they want to reign in equity markets and not impact business lending they could change the margin loan limit to 50%, for example.

It is a fact that in the past major technological changes have usually led to greed, rampant speculation and then depression. AG will avoid this, if he can.

Carl
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