re: #184 Blind Frog Belly White

I beleive it exacerbated it, but really, people were panicked. It was the first really big bull market of most people’s lives, and a lot of people had discovered borrowing on margin. The rules then allowed you to borrow a larger percentage of the value of your portfolio, so there were a lot of margin calls.

Back in 1929 you could buy stock with less than 15% down payment, when those margin calls hit, the whole house of cards crumbled.