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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (9936)	10/9/1998 12:18:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 16892

Paul, perhaps you are correct. My point is that Datek is not (to my knowledge) with the derivitives and hedge funds debacle. I have no idea how Datek's financial health is doing. I suppose with Merril the old chestnut of "Can't pay your $50000 mortgage off? You have a problem" versus "Can't pay your $50 million loan off? The bank has a problem". On the other hand, if you are within the limits of SIPC insurance your risk is the time value of the money while waiting for them to pay you back. Block Trading also went belly up a couple of weeks ago. Perhaps sticking with a publicly traded company is a better idea. At least you can look at the SEC filings and get an idea of the company's financial health. Barb

To: Paul Shread who wrote (9936)	10/9/1998 12:37:00 PM
From: doniam	Read Replies (1) \| Respond to of 16892

I think that Bear Stearns only cleared the trades for PT and their was no "backing" and the securities were in fact in the possession of BS. The problem when one of these outfits fail is not the loss of your assets but the fact that your account is difficult to trade or manage. The financials received as a recent statement stuffer claimed in note 4. that DATEK had $17,867,436 net capital some $12,406,962 in excess of the amount required by SEC rule 15c3-1. This is as of 6/26. Not concerned Don