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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (32197)9/3/1998 5:39:00 PM
From: GuyNixon  Read Replies (3) of 132070
 
MB:

Another question for the more experienced mind.

When the Hong Kong market collapsed last yr, many brokerages and investment banks went under with it.

Some put option holders had trouble cashing in. I understand Put sellers in US are often hedged themselves by shorting the underlying stock. And there is the option clearing co. Will there be enough money to handle all our put contracts?

Also, many individual brokerage margin acct were suspended or even wiped out, since the brokerages suddenly went out of business and had secretly sold margin securities to cover the firms' own debts.

Are these events likely in the US?
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