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To: Lizzie Tudor who wrote (43306)5/26/1999 11:10:00 PM
From: John Pitera  Read Replies (1) | Respond to of 86076
 
Hey this is a great post " "Graham identified 3 forces he felt were responsible for the stock market crash.
First was manipulation of stocks by exchanges and investment firms. Each day
brokers were told which issues to "move" and what to say to generate excitement
about the stock. Second was bank policy to lend money for the purpose of buying
stocks. .... The one area that could not be legislated, yet in Grahams mind was
responible for the crash was excessive optimism - the third force".