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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (89231)	2/5/2001 9:28:56 PM
From: Tommaso	Read Replies (2) of 132070

Well, well, live and learn. I have now found and studied the agreement for my short/margin account and find that yes, indeed, the brokerage has the right to cover, at my expense, a short position for which they can no longer borrow the stock. my, my, my. Well, I guess I have the right to liquidate my entire account and put the money in the bank, don't I. I have never got over the presumption of the insurance agent who --after I had at some sacrifice paid premiums into a whole life account for many years which had a guaranteed borrowing rate of 5% (when the prime as hitting like 18%) righteously lectured me about "stripping the capital from the company." Makes one insufferably smug to realize that one is better capitalized than a nationally known broker.

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