Word: interest
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Dates: during 1990-1999
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...Rican community getting excited about this or rushing out to support Hillary?s campaign? Hardly," says Branegan. Armed struggle for independence isn?t exactly a mainstay of New York Puerto Rican politics. "These guys were released because of years of pressure from human rights groups," says Branegan. So special interest groups who want to make cases such as the release of Jonathan Pollard, jailed for spying for Israel, an issue in the First Lady?s campaign may end up shooting themselves in the foot. "If anything," says Branegan, "the First Lady?s candidacy will make President Clinton even more cautious...
...popularity the driving force. But Kinkade has yet to make a significant dent on the East Coast, and his harshest critics may be on Wall Street. While sales have held steady, Media Arts' stock price dropped more than 60% since the beginning of the year over concerns that interest may have peaked. Says Shawn Milne, an analyst at Hambrecht & Quist: "This thing came raging out of the gate, and they're not crushing numbers anymore, so there's always the worry that it's just Beanie Babies again...
...could margin investing turn cataclysmic? Here's the scenario most feared--and most plausible. The combination of rising interest rates, lofty P/E ratios and some unexpected Y2K problems in the period ahead could jolt the market into a major sell-off. Internet stocks would be most vulnerable, but the damage could spread to other equities as well. If a stock bought on margin falls 30%, the stockbroker typically grabs the phone and utters the dread words "margin call." It means you've lost so much money on the stock you bought with borrowed funds that you have to dig into...
...Some responsibility goes to Federal Reserve boss Alan Greenspan, who complained as far back as 1996 about the market's "irrational exuberance." Yet it is within his purview to raise margin requirements above the current 50%. However, that might tick off Wall Street, which earns more than 8% interest on margin loans. (Brokers are free to raise requirements on their own, and some have.) No Fed chairman since 1974 has moved to lift the limit. Individual investors--and not just day traders--also share part of the blame. Intoxicated by the hot market, many have abandoned all fear of losing...
...that Greenspan is good. Just two days after the Fed chairman raised interest rates to tap the economy?s brakes just a little, it?s already slowing down. The Commerce Department reported Thursday that GDP growth from the April-to-June quarter was actually 1.8 percent, instead of the 2.3 percent the government had estimated a month ago. In reality, of course, that has nothing to do with Tuesday?s action ?- even with a strong market reaction, an interest rate hike takes at least six months to reverberate through the economy ?- but it?s sure got plenty to do with...