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

To: LLCF who wrote (81348)6/1/2000 11:15:00 AM
From: Knighty Tin  Read Replies (2) | Respond to of 132070
 
DAK, Exactly. If Merrill goes belly up, they can't touch any securities you own up to the insured amount. In fact, they can't touch them anyway, legally, even past the insured amount, but if they step over the line and use your collateral (which is in their name) to back a derivative trade gone amok, they will go to jail but there may not be anything left for you to claim. So, legally, they can't do what every brokerage firm does when they get in trouble, but you may have no recourse other than sending the perpetrators Ex-Lax pies in prison. Except for the insured amount, which Uncle Sugar comes up with. By taxing me. <g>



To: LLCF who wrote (81348)1/11/2001 12:51:12 PM
From: marginmike  Read Replies (1) | Respond to of 132070
 
So in essence being in a Cash MM is the most unsafe route of all? If you own stocks in an acount then those stocks are yours and cant be taken by brokerages if they go bankrupt? Is that correct? So one should buy 30 day treasuries instead of Govt funds?


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