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When you deposit your money in an account with IB, or any other broker, that deposit becomes an obligation of the broker. If the money is deposited in an institution that ultimately fails, your money is still an obligation of the broker. That's why the level of IB's capital is important. It...

You miss the point. I didn't say Obama was responsible for the recession, etc etc. I said the market crumbled as Tim Geithner made it clear he had no plan on Feb 10. That has nothing to do with Bush or what happened on 9/11.

Nearly everything Obama has proposed has "far reaching consequences", Newsweek, the mouthpiece of liberal media notwithstanding. OldTrader

And your point? If I use the example more than once, does it invalidate it? OldTrader

It's an example. Nearly every day though there's another example. OldTrader

Rep Peter DeFazio, Democrat from Oregon, and several other Democrats proposed the "Let Wall Street Pay for Wall Street's Bailout Act of 2009". Here's a link: http://www.opencongress.org/bill/111-h1068/text OldTrader

IB discusses all of this on their website, in detail. All you gotta do is go read it. But, your main account with IB is called the Universal Account...it's a securities account. It's insured by SIPC and Lloyds. But, if you make a trade in a futures contract, for the period that you have...

Once again, you illustrate your problem with reading comprehension. Here is what I asked you: Note I specifically said "no need to discuss their continued stock market collapse". What I specifically asked was for you to explain the Obama/Geithner plan for dealing with the banks...

SIPC doesn't cover futures accounts. OldTrader

Interesting though that Reagan did exactly the opposite of what Obama has done. He LOWERED marginal tax rates. Obama is raising them. Reagan was for small government. Obama is for big government/socialism. Reagan set off a 18 year bull market. You ready for the 18 year bear market...

I'd say at this point that Citibank is safer than almost any bank in the country. I may transfer some funds there. OldTrader

Are you a trader? Because if you are, then surely you remember the 40 handle drop in the S&P on 2/10 for instance, a drop that commenced with Tim Geithner testimony in Congress in which it became evident he had no plan at all. We're now 200 points lower, each day confronted with anti-business...

Here was the post I responded to: Note the "continued fall in equity markets". Seems like ByLoSellHi is discussing the markets as well as the economy. Nice job of reading though. That said, perhaps you could explain the Nobama/Geithner plan in regards to the banks. That should be...

Of course there was a trend in place. Frankly, if you understood the price discovery function of the markets, you'd know that price discounts the future. And we were well on our way to discounting the future with Nobama. It didn't take much to realize what was coming and to just say sell...

Let me help you out here, since logic and facts have never been your strong point. On Feb 10, Treasury Secretary Tim Geitner testified before Congress. When it finally became apparent that he had no plan, the market sold off 40 handles that day. We then fell about 200 handles over about 2...

Not sure what you meant here. I've wired money from another broker to IB. The other broker would be a "third party", right? OldTrader

Exactly. Not to mention that gap between expenditures and revenues that will be growing rapidly, causing politicians to look high and low for a place to tax someone. This is no time for complacency. OldTrader

What's the difference? You mean other than the bank got to choose what it wanted to do with it's own mortgage? I know this may surprise you, but we have property rights in this country...at least we did until the Obama administration showed up. OldTrader

Any of you guys here recall Feb. 10? You're all traders right? That was the day Geitner testified before Congress, and we all realized he had no plan. That turned out to be a 40 handle down day in the S&P. Oh, that was about 200 handles higher than we were today. That was all Obama and...

Evidently you're not just complacent, you're a fool. As some of the other more enlightened posters have mentioned, taxes are going up to fund all the new programs. We all know it. So if you don't think a transaction tax is going to be talked about again and again...think twice. No, I...