Buying on margin

It's no wonder that stocks have enjoyed a huge bull run for the past 4 years.....banks and brokerages are willing to lend any skid thousands of dollars to invest on the market. With so much easy credit I'm sure that a large portion of the rising equity prices are a simple result of lots and lots of dollars chasing limited financial assets.

Case in point. I have an account with an online brokerage. This is what they know about me:

• My age
• Where I live
  
• The fact I am a student (but not my school or what I study)
• The fact that my total liquid assets total less than $10,000, er I mean $49,123,457
• The fact that I have essentially $0 in non-liquid assets (like houses and cars)
• The fact that my yearly income is less than $25,000
  

Despite these less than stellar stats, I currently have margin purchasing power that is greater than the total value of the assets I hold in my brokerage account. That means they are willing to lend a penniless skid money (to buy risky securities) that totals more than he has in equity.

That being said, I would have to be a complete moron to buy stocks on margin considering the %10.25 interest rate they charge. These people are leeches.