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Non-Tech : Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB
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To: brichard who wrote (55)2/6/1999 6:15:00 PM
From: Hubert Few  Read Replies (3) of 253
 
Got to play devil's advocate for a minute. I think suing e-brokers is the wrong approach entirely. What you will do is end up with *LESS* competition, and *EVEN WORSE* service!

I think companies need to be more honest with what their services offer and price/pick customers accordingly.

If all the "high roller" day-trader claims are true, ya'll are on the wrong boat anyway. If you have many thousands of dollars at stake hour-by-hour, you need to get set up in one of those trading rooms...forget e-trade and the like entirely.

I will be the first to admit *E* has sucked tremendously, but what are the alternatives? I am trying to adjust my habits to maximum advantage, but I have *never* assumed e-trade would be available every time I choose to trade during market hours.

This business of making online brokerages liable for *LOSS* due to people's not understanding the contract (the punk college kid you loss his ass on margin with Ameritrade) for instance is really stretching reality.

Sigh.....I hate e-trade sometimes, but even on their worst day they are better than those chumps at Olde, which is where I used to trade, several years back. On a busy day you could wait 20 minutes for a broker, an hour for confirmation, and pay 3X as much in comission...and this from a "discount" broker.

Let's get real folks....I mean really. All the e-brokers are growing too quickly, do you want to have to deposit $100,000 to have the privilege of using them? Sooner or later it could come to that!

Just my 3 cents worth!
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