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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (79422)	4/12/2000 9:28:00 PM
From: Joan Osland Graffius	Respond to of 132070

Tommasco, >>The brokerage will probably have to eat his loss unless he chooses to sell his car or whatever and pay them off. Most brokerage firms ask for and get a net worth statement from the client when they give you a margin account. The brokerage firm can let the account go if they know you have assets to cover the margin call. In the case of this person, the person responsible for margin compliance will sit down with him and his net worth statement and let him choose which asset he would like to sell. <ggg> I had one of the firms where I have an account call me this week. The compliance officer was making a margin call and I asked him who is using my account since I do not have any investments on margin. He apologized because he thought he was calling someone with an account number one digit greater than mine. He said he was tired and has been working overtime weekdays and on last weekend trying to get his job done. <ggg> Things must be getting dicey out there. Joan