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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: gene_the_mm who wrote (411)8/4/2000 10:27:41 PM
From: paul gambuto   of 1426
 
Hi Gene,

i have a hypothetical question for you.
what would happen if a market maker was short a lot of stock in a small company. then this market maker were to go out of business.( chapter 11 ) now there are many more shares out there,then there should be, because the market maker had shorted this small stock. are the market makers insured? if i owned stock in this company, is my broker responsible for the shares they say i bought and are in my account?
i have no idea if this is happening,( or if it could even happen ) but i would call for my shares in this company, if i thought i could possible get screwed ( for lack of a better word )because there now would be more shares outstanding then the company really has outstanding.

thanks for you time,
paulie
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