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Ah ... so now we have exceptions. I can tell you that institutional US clients of Lehman that missed literally a few sentences in account agreements (they are big boys and should not have) lost hundreds of millions of dollars that they do not want to publicize (I'm not suggesting it is a...

John Q. Public's head hits the pillow on Monday night secure that he has X dollars on deposit with a futures broker and what's more, if he is willing to pay say a $25 wire fee, he can access those funds same day if he makes his decision in the AM. On Tuesday he does not have access to X...

The value of the equity frequently bears little relationship to the soundness of the counter party.

That statement is simply inaccurate.

I must concede that actions of that nature do have dire consequences. But right now we have clown rule broadly across our society. I might be better off taking my shot with the mob. Dealing with the clowns is just so damn tedious.

Yes ... I do. And I don't even carry an account with them. It may send a nice message!

Some cycles end just fine. The dip is short, not too deep and the recovery is robust. My feeling is the coming downturn will have none of thos attributes.

You are correct. This cycle will not end well.

jeb, while you may be technically correct in that administratively some other firm may actually physically clear the trade (I do not know) but effectively you are "all in at AMP". You wire to AMP Global Clearing, you money is in their segregation account and that is the counter party you will...

The fact is the heart of the audit process is that the CPA contacts financial and other institutions directly and receives written verification of funds/assets under their custody. While verifying liabilities can be tricky -- sometimes they just do not appear on the books of a company -- not...

Friends who use them tell me they are well run but AMP is self clearing with low capital, runs a rapidly growing shop with lots of IB's, low margins and small accounts. On the plus side they say they do not trade their capital. I do not mention them to knock them ... as I said they seem to run...

While I was exaggerating for effect I believe most profitable day traders with a $500 margin requirement have little need to keep more $1,000 per ES contract in an account. It has nothing to do with what a big account is or what is a small account but rather, as you have pointed out, what is...

Since I don't scalp commission costs are not central to my ability to make my plan work.

I have always felt exactly the same way. Why wouldn't I have the bulk of my funds FDIC and/or SIPC insured rather than subject to the vagaries of segregation? if you want to trade ES in 10 lots give 'em six grand ... ok, seven if you're a sport but to leave them $20,000 or worse yet $30,000...

Q -- where did the largest loss of seg funds occur? A -- Lehman's London operation ... around three billion US. Segregation works just fine if the money is there. The problem is it is not always in the seg account when the bust happens. I'm not sure why people equate segregation with...

Lipman generated serious income as a stock tout (over and above his "journalism") according to an old time Wall Street guy i knew pretty well.

While my opinion of the OP has been clearly stated I do think some games are dealt today with more leeway for the dealer to move on a soft 17. I am years away from the game but I have heard that latitude does exist but that does not change his ignorance.

They are all of one piece of cloth. What you say makes sense.

Frankly I did not expect to hear a number under $.75 R/T. Assuming you are happy with the split the numbers are dynamite.

I am not asking if it is possible rather I am asking if anyone here has actually done it. Horses of dramatically different colors.