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To: billie who wrote (38030)10/28/1997 3:33:00 PM
From: mauser96  Read Replies (1) | Respond to of 186894
 
One would think that there is at least an implied contract on the part of the broker to arrange his affairs so that he can be reached by his clients. When they runs ads they don't mention the losses you will have when the broker can't be reached. Fortunately I did a lot of what I wanted prior to the close yesterday..For a while today all methods of contact were nonfunctional. Iwas able to get Schwab 500 a few minutes ago to make a trade. I know next to nothing about the relevent laws but this could lead to a class action lawsuit. Scwab certainly deserves one. Any lawyers out there?



To: billie who wrote (38030)10/28/1997 4:32:00 PM
From: L. Adam Latham  Read Replies (7) | Respond to of 186894
 
billie:

Re: SCHWAB problems

I am now actively searching for a new broker. Schwab's service today was horrible on all fronts - E.Schwab, Telebroker, Schwab 500, Web trading, everything. From reading other postings today, I get the feeling there are going to be massive defections from Schwab in the near future.

First, did anyone have success trading with a discount broker? If so, who was it? If most discount brokers couldn't handle today's volume, I'll probably switch at least a portion of my funds to a full-service brokerage. I read one recommendation today for Fidelity. Any others?

I predict that Schwab will not have a very good Q4. They certainly won't receive any more commissions from me.

Adam