Cash on the Barrelhead

The Federal Reserve Board last week fired another shot to bring down the highflying stock market. It raised margin requirements to 100%, virtually put all stock buying on a cash basis. Twice in the last year, the board has popped away. Last February it upped requirements to 50%, in July to 75%. The bull market went right on. No one expected this pop would stop it. Reason: most stock buying has been on a cash basis for some time.

In the two days of grace before the new rules became effective, the market...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!