RCC Holdings Corp fka RCCH

[frogdreaming]

I think you misunderstand the concept of settling.

No, my premise is the shares that I buy and that are held in street name are merely IOUs in my account. Those shares are not in my name. Those shares do not need to be actually delivered until, e.g., I ask for certs.

It really doesn't matter to the rest of the world whether the shares are held in one account or another, as long as they have been delivered from the seller to the buyer (or buyers representative). As long as they have been delivered they 'exist', they are not imaginary and they are not 'air'. They have a tangible (albeit electronic) existence.

If they were in fact 'short' (as in nonexistant) they would not settle in any account. Not yours, not street name, not the brokers account, they would NOT SETTLE. They would appear immediately on the FTD list.