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To: Skeeter Bug who wrote (123965)	4/21/2001 10:31:51 PM
From: Victor Lazlo	Read Replies (2) \| Respond to of 164684

<<victor, there are a number of ways to keep credit within reasonable levels. he choose not to pursue them. hence, history... >> In the bubble that we have seen burst, margin played a critical role. you know that. Everyone knows it. AG blew it big time on this. AG should have tightened up on margin rules. Margin played a huge role in the mania market, and at the time AG claimed that tightening on margin would hurt small investors. Actually the reverse turned out to be true- liberal margin levels allowed unprecedented speculation with "money" that was never really "there".. and with disastarous results for small investors, including those who did not use margin.. Victor