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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (7003)	7/20/1999 3:43:00 PM
From: Wally Mastroly	Respond to of 15132

Has MSFT & IBM spooked this "fully valued" market with the "Y2K" words??? Message 10584244 - Here's the type of Y2K headlines that spook me: 14:29 NORWEGIAN GROUP SAYS RUSSIA'S NORTHERN NUCLEAR FLEET VULNERABLE TO Y2K COMPUTER PROBLEMS. 14:28 GROUP SAYS RUSSIA'S NUCLEAR FLEET Y2K PROBLEMS COULD FALSELY REPORT MISSLE ATTACKS

To: Wally Mastroly who wrote (7003)	7/20/1999 9:35:00 PM
From: Gary D	Read Replies (3) \| Respond to of 15132

Internut Alert, especially for internuts on margin-- An "Amendment to Account Agreements" pamphlet mailed out by Schwab includes the following: "Security for indebtedness. In this section add the following paragraph after the last sentence: 'If you owe money to Schwab as the result of activity in your account, and there are assets available in any IRA account you hold at Schwab which could fully or partially satisfy the debt, you agree that upon Schwab's written demand, you will execute all documents necessary to effect a distribution from your IRA account and agree to pay or cause such funds to be paid immediately to Schwab in order to satisfy your indebtedness to Schwab.'" Apparently Charles has been burned too many times. He is getting tough-- "no more mister nice guy" In this scenario, I believe one who loses everything in a margin account could still end up with a higher tax bill due to taxes on his forced IRA distribution. Double bummer.