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To: David M. who wrote (507)11/15/1997 4:39:00 PM
From: TraderGreg  Read Replies (1) | Respond to of 11708
 
David M-Please make sure everyone knows the date of those EMails. Especially with respect to "Shorty to begin covering soon" I think this was early November. While I doubt he has completed covering, he has started to.

TraderGreg

PS My understanding is that when a client fails to cover, the broker immediately does...at the market. Sends the client the bill, sues for recovery, client goes bankrupt, broker goes bankrupt, SIPC has to cover, Milken buys up the ashes, who cares... COVERING ULTIMATELY MUST OCCUR.

COCONINO~MULTI-BAG CITY MARYLAND