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To: Jack of All Trades who wrote (8054)10/14/2005 5:08:03 PM
From: TFF  Read Replies (1) | Respond to of 12411
 
"Refco Securities LLC, an indirect subsidiary of Refco Inc., informed Depository Trust Co. "that it will begin the process of winding down its business," DTC said in a notice on its Web site. "Refco, which is in full compliance with all of the DTC Participant requirements, remains in business for the purpose of winding down its outstanding positions. Refco has represented to DTC that, as of today, it will not be engaging in any new business except to the extent necessary to offset and effectively liquidate outstanding long and short proprietary and customer positions."



To: Jack of All Trades who wrote (8054)10/14/2005 5:28:54 PM
From: groundone1  Respond to of 12411
 
they already created a panic since they have to liquidate all their security positions. Plus withdraw will be held for 10+ days. This will create some panic IMO since they have to sell positions, mean while, u need find extra money to buy them since the money tied to those positinos can't be withdrawn


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