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

To: S. maltophilia who wrote (81358)	6/2/2000 10:56:00 AM
From: LLCF	Read Replies (1) \| Respond to of 132070

<Yes. In an emergency, SIPC may borrow up to $1 billion from the U.S. Treasury through the Securities and Exchange Commission if the Commission determines such a loan is necessary to protect customers and maintain confidence in United States securities markets. SIPC must present a plan which provides as reasonable an assurance of prompt repayment as may be feasible under the circumstances. If the Commission determines industry assessments would not satisfactorily repay the loan, it may impose a transaction fee on purchasers of equity securities at a rate not exceeding 1/50 of 1% of the purchase price ($.20 per $1,000). This fee would not apply to transactions of less than $5,000.> IMO very few would actually lose money due to a large broker going out of business [probably small either]... the government would just bail away....and print dollars: GOT GOLD???? DAK