Last summer, millions of farmers, housewives, security guards and a litany of other newly minted daytraders, opened enough new stock trading accounts for evey man, woman and child in Las Angeles - in just one month.
The excitement was palpable - and before anyone knew it, the proliferasion of around a half back door margin lendings chanells pumpped an additional CNY1.5 trillion into an already frothy market. Without putting too fine a point on it, didn't work, it started to uravel and the party got concerned about social instability.