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

To: Eggolas Moria who wrote (74740)	1/28/2000 12:58:00 PM
From: Tommaso	Read Replies (2) \| Respond to of 132070

The Fed's authority to raise and lower margin requirements is perfectly clear. Margins were set at 100% at times during the 1930s and during World War II, meaning no borrowing permitted whatever. You could not use stock as collateral for anything--at least not legally. The Fed has simply abandoned its responsibility to regulate this kind of debt. I have not been aware of even much jawboning about margin debt--indeed, Greenspan's comments over the last two years have on the whole been meant to sound reassuring.