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To: KymarFye who wrote (9951)	4/11/2002 10:07:19 PM
From: OX	Respond to of 12617

K, i believe LPS5 was laughing so hard because YxY thot he could actually know ahead of time to liquidate and wire his money out. Gee, if things like this were only so easy ;-) in your "hypothetical", u have no cash attributable to SIPC (it's in a mmkt, supposedly not owned by the broker, so its a security). I'll let LPS5 handle the tougher question of how long it takes for u to get ahold of your securities that is at clearing firm (that is not the broker and) that is not in trouble. probably takes a little time, but not as bad as if your broker were self-clearing is my guess. The "tied up for years" part is if u are depending on SIPC insurance to get your CASH back. and as I said, don't count on getting it back dollar on dollar.

To: KymarFye who wrote (9951)	4/11/2002 10:12:07 PM
From: LPS5	Respond to of 12617

I know, man. I'm laughing because there's someone out there who thinks that (a) they have a chance of anticipating the type of financial hardship that could overtake a securities firm by doing technical analysis and (b) that they might somehow slip a wire tranfer past what would likely be an employee-free firm by the time the magnitude of the problem was known definitively. To see someone taking something that serious lightly, well, it's enough to make one laugh or cry...and you've seen my decision. ;-) With regard to what is and isn't covered, where money market funds and the like are covered, see the following: sipc.org ...and I certainly wouldn't dare to estimate lag times to be made whole in terms of certain brokerage arrangements, predominance of securities in a given account, etc.; all I'm saying is, it takes a lot longer than most people like waiting to see their money again. Certainly a couple or few years, in some cases. I'd bet the average time is north or south of a year by a month or so, in fact. LP.