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

To: Mama Bear who wrote (9937)	10/9/1998 12:42:00 PM
From: Paul Shread	Respond to of 16892

I wonder what the reason is for these firms going under? A general credit squeeze or specific company problems or a combination of both? You're right that the size of the loss matters; if you or I went under, Messrs. Greenspan and McDonough would not be organizing a massive rescue package for us. Same for a discount broker vs. one of the big houses, or so it appears (I hope I'm wrong, but I'm starting to doubt it). I may start applying the concept of "too big to fail" to my brokerage accounts, lower commissions notwithstanding. Yeah, I'm insured, but who needs the stress on top of the general market mess? I'm not ready to act yet, just worrying out loud. I'm not sure how this compares to 1990, credit-wise, but there are a lot more little firms than there used to be that haven't been tested yet. I've been pretty happy with Datek from a technical trading and features standpoint, though. Paul