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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: rich evans who wrote (20165)	12/14/2011 4:18:54 PM
From: ahhaha	Respond to of 24758

money never existed in the segrated bank account A segregated account is an abstraction in a computer. Until the '60s margin depts.kept accounts on physical ledgers. They had a box, the margin box, where hypothecated security certificates were held. Cash deposited was taken to the bank at 5PM EST. Cash deposited was entered on the margin account T sheet and and on the cash T acct. What we have now is simply an electronic equivalent of the old system. In both the old and new systems monies sit in a custodial bank in a big undifferentiated pile. The differentiation, the pigeonholing, all occurred at the brokerage office on the T accts.and in the segregated certificate securities. Therefore, your statement can't be true, or, it's superfluous. The funds were embezzled by the officers by transferring funds in a custodial bank to parts unknown. Not hard to modify computer records if you have management access.