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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (5251)	6/24/2001 3:32:01 PM
From: pezz	Respond to of 74559

<<Jay that quote was said with tongue firmly in cheek.I'm sure that CB's studies could confirm that:>> Sorry for sucha confusing comment. What I meant wuz that my quoting it was with tongue in cheek. [ I am a Bull ya know ] I just meant that you could confirm the quote.....My understanding was that he was dead serious. I think I even saw a clip of him saying it . But maybe that was something else. <<of course the magnitude of the Great Crash was exacerbated by brokers selling out margin accounts in order to repay call loans.>> Yeah and at up to 90% margin it didn't take much selling pressure to start a cascade . Add in the bear pools who were allowed to [ and did ]use fund like concentrations of money to short [ no up tick rule ] stocks to death. I did a paper on the crash when in collage and spent 12 hrs in the LA library looking at the N.Y Times of the day on microfilm . The headlines for the continuing story were a study in despair them selves. 14 days inna row if memory serves me.

To: Ilaine who wrote (5251)	6/25/2001 12:02:10 AM
From: LLCF	Respond to of 74559

< President of the New York Stock Exchange, at the Annual Dinner of the Chicago Stock Exchange, May 9, 1929, where he lays out in great detail how the Federal Reserve was deliberately pursuing tight money policies with the intention of bringing down the stock market. > Sounds a lot like last year.... interestingly Greenspan seems to have put the sell off on hold for the time being even though the fundamentals of the underlying securities [real economy] continues to plummet. Should be interesting over the next couple of years... they may put Greenspan right there with the fed back then. DAK