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1 year agoTest comment!
Sus admin alt account. Throwra_scentsitive on Reddit.
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Joined 1 year ago
Cake day: June 13th, 2023
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Goodmorning Lemmystonk!
Trading sideways a bit longer (at least until Monday)
Good morning Lemmy! Signing in from Chicago this month
As I wrote in my DD:
Hey apes, time to RTFL: Read The Fucking Law. (That’s the law they use to fuck us)
…
All along, we said the secret ingredient was crime. And there is a lot of crime. But there is also a non-trivial amount of technically legal non-delivery due to holders not RTFL and not asking for delivery of what they paid for and are owed.
That unprompted Bill-Gates-opines-on-the-stock-market piece was so random and extra
91·1 year agoAnother one. Don’t forget "No more drilling on federal lands, period. Period, period, period.”
Checked my account and it still looks fine
Good morning from North Caroli-- err, Chicago this week!
This is wild.
“Too much transparency could hinder the SEC’s mission to maintain fair, orderly, and efficient markets”
TF?
Fittingly, this post was removed from the sub: https://www.reddit.com/r/drsgme/comments/152d1bm/a_story_in_3_pictures_sad_to_see_history_repeat/
I will make a post in the anti-censorship community as well (edit: https://lemmy.whynotdrs.org/post/20411)
I had taken some of my cash that was in an MMF out prior to the whole debt ceiling fiasco, but now it is back in. This is interesting… I hope I don’t get penalties for removing cash in a similar way in the future…
👀️
On July 10, 2023, Carl Icahn and certain of his affiliates entered into a three-year term loan agreement (the “Loan Agreement”) with Bank of America, N.A., Bank of Montreal, Deutsche Bank AG, New York Branch, Morgan Stanley Private Bank, National Association, and M&T Bank, which amends and restates previous loan agreements with such lenders and consolidates all borrowings of Mr. Icahn.
… The obligations under the Loan Agreement are secured by pledges of an aggregate of 320 million depositary units of IEP owned by Mr. Icahn and $2 billion of interests owned by Mr. Icahn in the private investment funds managed by IEP.
Replace “teller” with “bank” because we are talking about legal ownership, not physical control.
While they absolutely “have a responsibility” to you, they also benefit from holding it, so your “anything but” rhetoric is incorrect. Brokers and banks alike earn money by lending the assets the have, despite their corresponding liabilities.
Correct. Legally, you have a “security entitlement”. Per UCC 8-503, the property interest you have a result of this entitlement is merely “a pro rata property interest in all interests in that financial asset held by the securities intermediary”, i.e. what your broker actually has, which is (a) opaque to you as a customer, and (b) is fundamentally difficult even for them to pin down - as it is composed primarily of their DTC account balance, ideally but they undoubtedly have many derivatives, transactions to settle (which can extend beyond 2 days because FTDs are common), shares lent out that are due to them, etc. So while the number of security entitlements in your account has a clear record, your property interest in the issuer does not have a clear record.