The nonequilibrium spin accumulation in ferromagnetic double barrier juncti
ons is shown to govern the transport in small structures. Transport propert
ies of such systems are described by a generalization of the theory of the
Coulomb blockade. The spin accumulation enhances the magnetoresistance. The
transient nonlinear transport properties are predicted to provide a unique
experimental evidence of the spin accumulation in the form of a reversed c
urrent on time scales of the order of the spin-flip relaxation time. [S0163
-1829(99)05302-3].