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Author: BenHacker Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35362  
Subject: Re: for jcmcarter Date: 2/21/2011 11:53 PM
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I have full trust in the SPIC and I sleep very soundly at night

Guys, sorry I can't take it anymore. You say something like this where I'm from, and you'd get the sh1t beat out of you.

You guys mean SIPC coverage... not spic which is a racial slur in some areas.

http://www.sipc.org/how/brochure.cfm

Also useful is to understand the backstop of CAPCO.

http://www.capcoexcess.com/USA/aboutCAPCO.html

A one stop article on the issue is here... written by a very smart and conservative gentleman --> http://www.pinnaclevaluefund.com/reports/StockStrat(26).indd...

The issues with Lehman going down were with anyone using margin accounts through them and specifically with funds who had trades in process that didn't hadn't cleared during the collapse.

If you are using a cash account, or even a margin account without drawing margin, you are likely clean even if a broker goes down. This holds for Stock / Bond / Options accounts, I think FOREX is still the wild wild west.

But at any rate... SIPC SIPC SIPC... thanks.

Ben
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