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Non-Tech : Home Solutions of America (HSOA), The best is yet to come

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To: FHM who wrote (72)	7/21/2006 9:08:31 AM
From: FHM	Read Replies (1) of 20808

<<You have shares that others are willing to pay a fee to borrow. Schwab borrows the shares and lends them to other clients or financial institutions, which use the shares to facilitate various trading strategies and FULFILL SETTLEMENT OBLIGATIONS.>> (emphasis mine) still amazed that the program applies not only to shares held in cash accts, but those in retirement accts as well. I am forbidden to deploy these shares 4 margined purchases or options trading, but apparently it is perfectly legal 4 Schwab 2 let some shortie borrow them to cover a naked short obligation...... <<shakes head in disbelief>> BTW, I have a call in to my broker at Fidelity to ascertain whether Fid has a comparable program. The rep I spoke 2 last night AH wasn't aware of one, and speculated that perhaps Schwab can do this bcz of its bank ownership. Will post what I am able to learn.

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