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

To: Knighty Tin who wrote (81350)	6/1/2000 11:19:00 AM
From: LLCF	Read Replies (1) \| Respond to of 132070

<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> By insured amount you mean SIPC? Also, I think realistically there is no way Merrill is going to be allowed to hand over an individuals securities illegally pledged to anyone. JMO of what won't happen even in the depths of depression. Thanks much for the response! DAK

To: Knighty Tin who wrote (81350)	6/1/2000 12:54:00 PM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Mike, >>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.<< What's the odds the current crop of bankers on Wall St. goes over the line and leaves taxpayers holding the bag? I estimate it at 100% since they are already there. (g) Wayne