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Non-Tech : Datek Brokerage $9.95 a trade
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To: poodle who wrote (9490)8/14/1998 11:14:00 PM
From: Jon Tara  Read Replies (3) of 16892
 
Oh, no, brokers aren't trying to protect their customers by making stocks non-marginable when they bubble - they are trying to protect themselves.

And, as I said, they have the right to do that.

They don't want to get into a situation where they can't sell the stock fast enough to get the customer out without the account going negative, and then having to try to collect from them.

I'm just saying that customers should use this as a clue - brokers seem to have a pretty good knack of recognizing these extreme bubble situations and protecting themselves.
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