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To: Ilaine who wrote (14313)	3/3/2000 9:42:00 AM
From: accountclosed	Read Replies (1) \| Respond to of 42523

the stock is definitely collateral. so doesn't the rest of the analysis follow from that? brokerage a needs to be made whole...and won't release the collateral without being paid. tricky for two brokerages to meet basically at a closing and exchange equities and cash in opposite directions in a very limited time. perhaps could be worked out for a major account...but not the average one.

To: Ilaine who wrote (14313)	3/3/2000 9:57:00 AM
From: IceShark	Respond to of 42523

That is an interesting question that I never ran across. My short answer guess is no. The broker is using the shares as collateral on his loan so won't let them go until the loan is cleared up. He has no obligation to sell the loan (transfer the account intact) and it would be such a pain in the butt from an administrative standpoint that I can't see why they would do it for a departing customer. Unless the customer is going to sue or something ... but even then ..... I would say there isn't much one could do in this situation other than fight for more time than the offered 4 days. The margin increase is an internal rule change and as such is not cast in stone. But remember the letter that just went out from the NYSE and SEC regarding margin. So, I would say try and sweet talk the brokerage for more time and hope the position moves the right way. If you fight it nasty I think you are a dead duck. read the margin account agreement - I bet the brokerage has the right to do this since this is less onerous than a short having his borrowed shares pulled away which happens now and then. . . . Well I predicted that analysts would start pounding the table on dhell. DLJ did it this morning - they see it in 50s shortly. -s-