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Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: Smilodon who wrote (8829)	12/6/2011 11:14:14 AM
From: Hank Scorpio	Respond to of 9012

I agree that someone should go to jail, but in Corzine's case I won't hold my breath. The SEC passed a rule some time ago that allowed brokerage firms to use the assets of clients to fund margin calls. This is the crux of the problem. Repeal this rule and everything is OK again. But, like this, its a license to fleece anyone who has money in a brokerage, or even a bank since it is all connected. This is not something that can be ignored. For me, its a game changer. The one good piece of news in all this is that the CFTC has voted unanimously to disallow all types of asset commingling. This was a positive step.