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

To: Nadine Carroll who wrote (79694)	4/16/2000 5:53:00 PM
From: Knighty Tin	Respond to of 132070

Nadine, Basically, they sell you on the same business day you get the call. When you get the call, you can choose what to sell. If you don't answer the phone or black out or something, they are supposed to sell you out. I say supposed to, because well-heeled customers who have some clout are often given a bit of a fudge factor. However, the brokers can get into legal as well as fiscal trouble for breaking this federal law, so most of the time you have that business day to wire more cash and most of the time they will wait until you do. But that's about it. Those who got margin calls after the close on Friday who swore they'd have fed funds at the brokerage by opening will usually be given until Monday's opening, but 5 minutes late and you are toast.