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

To: Jim Willie CB who wrote (4843)	8/19/2002 5:50:00 PM
From: surfbaron	Respond to of 89467

JW <<<<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>> so like what happened when ENRON froze 401K's, the securities held fiduciarily in a newly bankrupt co. could become worthless while waiting to verify your account ownership