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To: Frank Mandt who wrote (40973)9/17/1999 12:27:00 PM
From: ISOMAN  Respond to of 43774
 
Only they set up phoney accounts with stocks like INTC, MSFT..etc..

And he used those accounts to short...

There is a SEC investigation on going...They issued a press release..

Don't have time to dig it up now, maybe later.....

Anyway. The firms were boneheads, but the Killing was not warranted.

The punishment did not fit the crime.



To: Frank Mandt who wrote (40973)9/17/1999 12:48:00 PM
From: Howard C.  Respond to of 43774
 
And what is the "settlement" time on your trades from your margin account? Can you use the same margin for multiple trades, purchases, and sales, within one day before they settle? Yes or no.



To: Frank Mandt who wrote (40973)9/17/1999 12:56:00 PM
From: Howard C.  Respond to of 43774
 
Another thing, more serious, that they are alleged to have done was to set up totally phony accounts to allow them to Short stocks that in fact they did not own.


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