[BenLurkin]

Was working at a bank at the time. The Prime Rate was above 18% for months and topped at 21%!

[SubMareener]

My financial advisor got me into Chrysler bonds on margin. Told me it was a sure bet, unless interest rates went over 20%. Luckily I had insurance policies I could borrow against at 6% to meet the margin call.

[thingumbob]

I remember that also. My Dad borrowed bank money to build a strip center fashioned after Merchants Square in Williamsburg @ 18%. It was directly across from “the Mall”. It changed our families fortunes for the better but Reagan and Volker knew what to do.

This current generation of “young professionals” used to cheap bank money are in for a real punch in the nose. They have no idea what is coming. Biden is no Reagan and Janette “been” Yellen is no Paul Volker.

[Flick Lives]

Was working at a bank at the time. The Prime Rate was above 18% for months and topped at 21%!

—

Back then, I seem to recall, you could get 10% on the then-new money market accounts at a bank.