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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Elllk who wrote (9561)	11/26/1997 7:19:00 PM
From: O'Hara	Read Replies (2) \| Respond to of 18056

><>...HAVE A BLESSED THANKSGIVING EVERYONE...><> Unto thee, O God, do we give thanks, unto thee do we give thanks: for that thy name is near thy wondrous works declare. I wish not to offend anyone, just a general greeting of peace and good will. Shalom...><>

To: Elllk who wrote (9561)	11/26/1997 7:33:00 PM
From: Tommaso	Respond to of 18056

Closer to 2000 points ago. Any time,the Fed can raise margin rates. Hasn't been done in ages. They are now stuck waiting for the market to tank itself so that they won't destroy their political base by seeming to have undone it. Of course, in doing that they may destroy their reputation in the history books and even end up putting the Fed under tighter regulation with less discretion. Or so it seems to me. As has been said here and on other threads, there used to be a much livelier sense of government presence in the financial markets. I really did worry back in late 1969 that somehow Big Brother was going to find out that I had put that 6% bank loan into a covertible bonds. Now my broker never inquires where the cash I come up with is coming from. I forget the exact dates,but during WWII and before and after margin was set at 100%--i.e. NO credit on stocks.