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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (4823)	8/19/2002 4:21:17 PM
From: surfbaron	Read Replies (2) \| Respond to of 89467

wistera: <<they will doubt that the insurance on those accounts will cover them.>> but thats just it, 401K's are not insured anywhere.

To: Sully- who wrote (4823)	8/19/2002 5:24:39 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

I expect some big bank & brokerage & insurance failures Glass-Steagal was repealed just in time for lawsuits never before have such deep pockets enticed lawyers just as in Japan where deposit insurance was limited, we saw a significant move into gold we will see such a move into gold by Americans our financial centers have NEVER been more at risk does anyone realize that if a brokerage house declares bankruptcy, all trading accounts are frozen and placed into an escrow during receivership? you must then file a claim, proving ownership, which is a lengthy and stupid process this applies to trading stock accounts, to safeboxes in banks, to bank CD certificates, all assets held in fiduciary responsibility a good idea is to have stocks held longterm sent to you in the form of a certificate I used to get these while at Digital all thru 1980's the certificates are cool looking, with robed ladies owning a share certificate enables you to sell the shares anywhere just endorse the back, and notify how many shares to sell e.g. you might want to hang onto half the stated shares / jim