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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (62972)	6/22/1999 6:25:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

bp, Long before he was super famous, in fact, more infamous for his WIN buttons <g>, I once had a long conversation with AG. He touched on this. He seemed to think that the margin requirements were anachronistic in an era where non-bank credit was so readily available. Also, he used an argument I relate to abortion: if you make borrowing to buy stocks restrictive, borrowers will simply go to less visible or legal lenders. I didn't buy it then, though I was too polite to say so. I've changed and I would say so now. But I don't think his ideas have changed. I think he feels comfortable and in control with the margin debt flowing from the banks to the brokers and not other means.