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To: Box-By-The-Riviera™ who wrote (73448)2/28/2001 6:51:57 PM
From: NOW  Read Replies (3) | Respond to of 436258
 
the M3 rising contradicts that does it not?



To: Box-By-The-Riviera™ who wrote (73448)2/28/2001 8:17:45 PM
From: Mike M2  Read Replies (1) | Respond to of 436258
 
Joel, in the twenties the commercial banks lost their corporate loan business to the securities markets so the banks turned to loans on securities and real estate and purchases of securities for their own account. The collapse of lower grade bonds gave much tough love to the banks in the early 30s. mike


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