WANTED Charles Schwab customers. Message Board

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Non-Tech : WANTED Charles Schwab customers.

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To: Michael C. Woodward who wrote (35)	10/30/1997 10:14:00 PM
From: mauser96	Read Replies (3) of 69

It's not like Schwab had 50 times their "normal" volume. They actually had only 3 times the "normal" volume, certainly something they should have been prepared for, especially considering that their fees are not that far from what an active trader can negotiate with a full line broker. It wasn't just the on line that didn't work, their backups (Schwab 500, Telebroker) failed also. All the on line brokers weren't down. Since my bad experience with Schwab, I have investigated and found most of Datek's clients got through. Schwab was greedy and incompetent, but the customers are the ones paying the price. Write to the SEC and NASD - at least it will cost Schwab paperwork expenses.

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