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Re: tax_man post# 16685

Thursday, 05/31/2007 12:51:40 PM

Thursday, May 31, 2007 12:51:40 PM

Post# of 27673
Tax man

Until the physical certs are in our hands the brokerages have control over every single one of them until they are in your hands.

When the brokerages were working with Donnelly and they told everyone that everything had been sent to the new transfer agent the brokers were still on the hook as far as your shares were concerned until they reached your hands.

Right now the certs still are not in anyones hands yet and remain at the brokers so they can use our shares against us until they are no longer remaining at the firm.

I talked to the transfer agent about this and they basically said that until your certs are in your hands the brokers are on responsible for them.

So that is why i think its in everyones best interest to get there shares out of the big 3 and put them into a brokerage that has not given anyone any problems.

Im going with Bank of America and once the shares start to be mailed out the brokers will most definitely have to cover any shares that are short on anyones accounts once they send them out.

Also know that MMs have special clauses that let them short a stock as much as they want and let them cover whenever they want without a timeframe. That is why noone will ever know the Mass amount of shares that they have shorted because they dont have to report them to anyone.


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