Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Riskmgmt who wrote (85938)	1/16/2012 11:46:22 AM
From: carranza2	1 Recommendation Read Replies (1) \| Respond to of 218449

I would look over all my brokerage agreements and see if the broker has the right to rehypotheticate. If possible, and I am not sure it is unless you are an insider, I would also find out to what degree your broker is a counterparty on derivatives subject to preferential treatment in bankruptcy. You can generally find cautionary language in the money fund documents - interest rates are so low that they juice them up a bit with funky stuff. I would move my shares to a broker with no derivative exposure and with no rehypothetication language in the brokerage agreement. Best to be a scared chicken than road kill. I knew Wall St. has essentially captured government, but this BK provision is beyond the pale. Completely and thorughly outrageous.

To: Riskmgmt who wrote (85938)	1/16/2012 4:33:53 PM
From: RJA_	Read Replies (3) \| Respond to of 218449

>>Perhaps, even safe deposit box contents could be taken with the onus being on the injured party to sue to get them back. Has this ever been done in the history of any FDIC takeover?

To: Riskmgmt who wrote (85938)	1/16/2012 4:59:57 PM
From: Snowshoe	1 Recommendation Read Replies (1) \| Respond to of 218449

>>Maybe TJ is right on PM's that you can feel and touch<< Like I keep telling TJ, it's always the Black Swan you don't see coming that gets you. Did you know the UK government can seize your valuables on a whim and require you to spend years proving you got them legally? Look at Operation Rize... The raid that rocked the Met: Why gun and drugs op on 6,717 safety deposit boxes could cost taxpayer a fortune dailymail.co.uk In all, more than 500 officers had gathered to receive orders to raid smart addresses in well-heeled parts of the capital. The locations included three of Britain's largest and most well-established safety-deposit box depositories in Edgware, Hampstead and Park Lane as well as an office and the homes of the three directors of Safe Deposit Centres Ltd, which owned the vaults - two in Hampstead and one in Barnet. *** The police rolled through London in a convoy: scores of patrol cars, armed-response vehicles, outriders on their bikes, vans with their windows shielded by metal cages. With a Met film unit recording everything, detectives forced their way past startled security guards, demanding receptionists open the secure doors that led to the normally hushed strong rooms, which in the three centres housed 6,717 safety deposit boxes. *** Many of the clientele were families who had fled turmoil, pogroms, coups and wars and long had a cultural preference for locking away money and jewels, building up a vehement distrust for the integrity of traditional banks. Here, stepping down the spiral staircase at the back to the darkened boxes below, they felt reassured that their most important possessions were safe.