Fannie Mae-No Politics (FNMA)

[Potty]

I agree about margin -- we are at record levels of margin and household stock exposure

The margin has driven everything higher in a vicious upward spiral

And when it finally cracks the margin calls, and forced selling, will spiral us down just as viciously -- probably more so

This is one of the dynamics we saw in the boom and bust twenties


I have a lot of cash waiting for any bog move down, then I can buy those solid, cash rich blue chips and growers