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...
To continue reading:
or
Log-In