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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (2570)	1/14/2000 7:33:00 AM
From: fut_trade	Read Replies (2) \| Respond to of 42523

In addition to fretting about stock-driven spending, the Fed chairman also said that the central bank is watching closely the recent surge in borrowing to pay for stocks. Citing recently released New York Stock Exchange data showing a surge in so-called margin debt in the last two months of 1999, Mr. Greenspan said "it's clear that something's going on." But he reiterated the Fed's longstanding decision not to attempt to curb such borrowing by raising margin requirements, branding such a move an "ineffective instrument." interactive.wsj.com