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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: lindend who wrote (1482)	6/22/1999 1:07:00 PM
From: Mark L.	Read Replies (1) \| Respond to of 10293

I don't care what the broker agreement says; there are loads of lawsuits. Ask any compliance manager at a major brokerage house. "Since when has legislation increased my rights and freedoms?" Since legislation was passed to prevent frivolous lawsuits. Case in point: people wanted Cessna to go back into the light airplane production business: customers wanted the freedom of choice in terms of what plane to buy. Cessna said, "No way until there is legislation limiting liability." This standoff lasted for years. Finally the legislation passed; now there are new Cessna's you can buy.

To: lindend who wrote (1482)	6/22/1999 1:08:00 PM
From: BelowTheCrowd	Read Replies (1) \| Respond to of 10293

Linden, And guess what? People still sue. And get away with it. "Failed to understand the intitial contract" is usually where it starts. They put the broker in a position of having to prove that there was a "meeting of the minds" when the contract was signed. Then they point out that the risks were not expressed in terms that were well understood, etc. I think a better way of stating the same thing is: You want the freedom to do something that could be harmful to yourself? You've got to give up on holding somebody else accountable. Unfortunately, even something that simple and obvious (to me) seems to require legislation these days. mg