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To: stomper who wrote (2082)2/23/2001 10:30:15 PM
From: Jack Hartmann  Respond to of 6927
 
the speculative imbalances had become so overwhelming

Margin was $10 for $1 collateral. Overwelming indeed.

Jack



To: stomper who wrote (2082)2/23/2001 11:32:16 PM
From: jjetstream  Respond to of 6927
 
Nice find stomper...poking around the Rand archives.....maybe AG ought to go back and read some of his earlier writings.....



To: stomper who wrote (2082)2/23/2001 11:36:39 PM
From: Jack Hartmann  Respond to of 6927
 
consequent demoralizing of business confidence. As a result, the American economy collapsed.

I reread it again. This does more to explain the Jan. 3 rate cut than most explanations I heard. 1966. Wow.

Lack of confidence = collapse

Jack


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