JAWS;A P/E of 2 with 150%/yr Erngs Growth!! Message Board

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Microcap & Penny Stocks : JAWS;A P/E of 2 with 150%/yr Erngs Growth!!

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To: dalroi who wrote (2532)	8/26/1998 1:55:00 PM
From: John Fairbanks	Read Replies (1) of 4230

Clearing firms accept financial responsibility for things like this if their clients fail... the firms are supposed to make sure that they don't allow transactions by the brokerage houses which the brokerage can't make good, and if a brokerage does, it's the clearing firm's responsibility for allowing it... just like a broker is responsible for making sure you have sufficient funds to do what you are asking to do... and then on top of that, there is insurance that these companies need to have. There was an article a while back about a clearing firm that was pulled into bankruptcy because of a brokerage house that went under and they were left responsible. If I can find the link again I'll post it -- it was really facinating, and it was at least in part due to the brokerage house short selling beyond their means. Fortunately the US markets are the most regulated in the world and insurance covers a multitude of sins... ;-)

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