Greenspan sez....

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Sun May 9 09:11:38 PDT 1999


From rws at comserver.canberra.edu.au Sat May 8 23:06:09 1999

And he was then talking about 1987, whereas now, hundreds of

thousands of traders have their nesteggs (not to say borrowed

money) in stocks.

[ ... ]

I'm sure the stats don't exist with which we can determine how

many of 'em are Ponzis and how many of 'em are playing with

their retirement independence.

I think it's important to note here that retirement accounts aren't eligible for margin loans; so we should be careful to distinguish those high-rollers who are margining their way through life and those who are gambling their retirement savings. At least in the retirement accounts they can't lose any more than they had :)

/jordan



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