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Politics : Ask Michael Burke
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To: marginmike who wrote (88275)1/11/2001 12:57:13 PM
From: Tommaso  Read Replies (1) of 132070
 
The SIPC "insurance" has not been tested. A month or so ago a New York Times article documented that in the few claims that have been made, more money was spent in an attempt to deny the claims than to pay the customers.

I consider it perfectly worthless.

My broker's practices seem so cautious, however, that I hope that I can depend on them to maintain enough capital to cover all obligations. I could be wrong about this.
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