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Posted By: Matthew Pime

Joe,



Same regards to you. This conversation has been fun. I also think some of the commodity bubble crashing so quick is also due in part to another factor. Most of the investment banks were carrying huge derivitive books with various 'bets' in regards to oil in particular. With Bear Stearns, Lehman and the others either disappearing or changing hands- they had to unwind positions.



David-

Margin is not only defined as credit granted for brokerage accounts. I'm referring to credit itself. For the main street this comes in the form of too much leverage. (ie. overzealous mortgages, equity lines, aggressive business lines of credit and credit card debt)



I do understand what's going on out there. I'm just stating the facts.