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

To: Gary D who wrote (7021)	7/20/1999 9:56:00 PM
From: Ian@SI	Read Replies (2) \| Respond to of 15132

Sounds like Schwab is using IRA's to back up its margin loans just as if the IRA account was an integral component of the margin account. I don't know about the USA, but such a restriction is not likely to be lawful with an RRSP in Canada. Obviously, Schwab is doing their utmost to ensure that they get one or the other: the IRA or the margin account but not both. I know I sure as hell wouldn't keep both accounts with a broker that made me sign that kind of onesided agreement. FWIW, Ian.

To: Gary D who wrote (7021)	7/20/1999 10:16:00 PM
From: marc ultra	Respond to of 15132

Gary re:Schwab and margin: Wow considering what I posted a while back about Charles Biderman of Liquidity trim tabs being very surprised that margin rose to near historic high levels despite the internet sell off at the time, if we hit a nasty bear there's going to be a lot of devastated people out there when they learn their IRA was sold off to cover their margin account debt. Also I wonder if it's a joint account if a spouse is suddenly going to learn that (likely her) IRA has to get compromised because of a margin call. Marc