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Non-Tech : DATEK- COME LOSE YOUR MONEY
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To: BradC who wrote (11)11/12/1998 8:39:00 AM
From: Fridrik Skulason  Read Replies (2) of 38
 
> I don't understand why it would be in a brokers best interest to withhold the credit..

*RISK*

consider the following scenario:

A Datek customer sells all his stocks, liquidating the portfolio, and closes his account - withdrawing the money. The next day the stock market crashes....badly. One of the buyers of the shares mentioned above goes bankrupt, and on the settlement date is unable to pay for the shares bought. Where does that leave Datek ?
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