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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Crabbe who wrote (5522)	10/21/1997 1:17:00 PM
From: shasta23	Read Replies (1) \| Respond to of 16892

Hello everybody! i have a very basic question in regard of opening an account with DATEK.When reading the form to open an account i came across the following sentence: "DAtek online offers excess SIPC coverage of$2 million per account with no more than $100000 for cash. Your account at Datek is covered by SIPC for up to $500000($100000 in cash)." Is this usual industry insurance and for how much is a regular account insured? $500000? And what else do they offer than cash? I don't understand the differnce between $500000 and $100000. Does anybody know what that means? Thanks for any info Stefan

To: Crabbe who wrote (5522)	10/21/1997 1:23:00 PM
From: Jack Zahran	Respond to of 16892

Rodney, again, I DID NOT KNOW. DATEK INFORMED ME OF A DIVIDEND. I believed them. That is my only fault, I trusted Datek. As soon as I found out, long after Datek realized they made an error, I immediately tried to get things fixed. They profited off of their mistake, I in no way did. Nor did I ever attempt to remove money or securities from my account. Are you saying that I was at fault for trusting Datek's system? Are you saying that a trader should not believe the information that Datek publishes? They are a Broker-Dealer, they are supposed to know better. They are not supposed to publish false information in our accounts. Is this some sort of game, we give you wrong info, we mislead you, now you figure out whether our info is right or wrong. If you can't catch our error, you pay the price. Doesn't work that way Rodney! You don't know what you are talking about Rodney. I can only surmise though that you have been talking about my matter to the Datek reps. Please stop stalking me.

To: Crabbe who wrote (5522)	10/21/1997 4:26:00 PM
From: Jack Zahran	Read Replies (1) \| Respond to of 16892

Rodney, I was just reading one of my favorite threads and came across another user who has a problem with Datek. I recommended that he post the problem here. Just wanted to tell you ahead of time that I did not scan SI for Datek like you do and I wanted to make sure that the next time you scan SI, you don't use this as a reason to post anymore crap about me. To save you the effort of looking for it: Here is the link to the problem: techstocks.com Here is my Reply: techstocks.com Bye Bye, Jack

To: Crabbe who wrote (5522)	10/21/1997 7:11:00 PM
From: clochard	Read Replies (1) \| Respond to of 16892

"Jack I didn't say Datek wasn't wrong, I just stated that you compounded the error greatly by selling stock you should have known did not belong in your account. That at the very least makes you partially at fault." You are taking Jon's comments as gospel truth. The truth is: Datek has made mistakes and not rectified them in accordance to SEC rules. A brokerage is not like a hamburger stand where customers can go somewhere alse if they don't like it. There are RULES Rodney in which a low commision cannot dispense with. The rules MUST be obeyed! No one should try to rationalize the errors that happened to a Datek victim.