Plentiful Credit Just Buys Misery

* I have been a soapbox pundit for the eradication of credit in all areas except for homes and automobiles. The extension and pervasiveness of credit throughout our society has been the single largest contributor to the bankruptcy of thousands and the further cause of inflation.

This issue was, again, demonstrated by “E-Brokerages Face Backlash After ‘Margin’ Debacle” [June 11]. It brought out how the extension of credit in the stock market can cause tragic monetary disruption to those allowed to make such purchases.

This is what caused mass suicides and bankruptcies in the history of the stock market. Seems we never learn from history.

CHAS E. MOSER

Anaheim