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Strategies & Market Trends : Americans 4 "No Own - No Sell" -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (226)	10/2/2001 2:16:15 PM
From: Rande Is	Read Replies (1) \| Respond to of 455

Not off hand. Frankly, it is a bit like parking your car at work, and without your realizing it, your employer is renting out your car while you work. So each night you get into it, it is worth less than in the morning. When you think of it in tangibles the whole concept is absurd. Leave it to Wall Street to devise such a slight of hand style scheme. . . or should I say scam. And yet this scam has gone uncontested for many decades. But today our markets are too vulnerable and could plunge us into a deep depression should we continue the slide much longer. And it is time to bust this scam. Are there any scam busters out there?

To: Ga Bard who wrote (226)	10/3/2001 12:12:01 AM
From: Nazbuster	Read Replies (2) \| Respond to of 455

re: "Rande do you know of any other country that forces it citizens that own property (Stocks, bonds, etc.) to have to sign over their rights to that porperty so another element (brokers) can loan the property out as collateral without the rightful owners knowledge or permission to affectively affect that property's value." You are so full of crap this thread stinks. Just another example of your ranting and raving over non-existent issues. In this case, you are WRONG, WRONG, WRONG. No one forces you to loan out your stock. You do so willingly when you put it in a margin account and sign your Account Agreement with your broker. If you don't want the shares lent, put them in a cash account or call your broker and tell them NOT to loan your shares. Here's a clear explanation of the process, not from an official source, however: The securities loaned can be obtained from several sources. The most common source is other customers that are long the security in their margin accounts. The second most common source is the firm's own inventory, third is securities borrowed from another brokerage firm, and forth is securities borrowed from institutional investors. A broker-dealer obtains the right to borrow securities from one customer and lend them to another in either the margin agreement, or much less frequently by wording in the account agreement itself. This authorization to borrow and loan securities is known as the customer loan consent, and it allows the brokerage firm to loan out only a portion of the customer's securities. Here's the exact wording from the Customer Account Agreement at Dreyfus Brokerage Services: 19. PLEDGE OF SECURITIES AND OTHER PROPERTY. All securities or other property, now or hereafter held by DBS, or carried by DBS for the undersigned (either individually or jointly with others), may be held in DBS's name or that of any nominee, and may from time to time and without notice to You, and in compliance with applicable federal and stock exchange regulations, be carried in DBS's general loans and may be pledged, re-pledged, hypothecated, or re-hypothecated, or loaned by DBS to either DBS as a broker or to others, separately or in common with other securities or any other property, and without retaining in DBS's possession and control for delivery of a like amount of similar securities, or other property.