I'm not tongue tied, you constantly have zero ability to comprehend the post. Unfortunately OHBULL, I elaborated on some of these comments and you are unable to see some of those responses.
what if the brokers NEVER see a cert...
Then the Transfer Agent needs to report which brokerages have more shares in their accounts than certed shares to back up their client's positions.
On the otherhand, do you honestly think brokerages like Etrade are not going to follow the Customer Protection Rule? Do you think Eturd is going to get stuck with a short position caused by someone....just for example...dumping shares thru Ameritrade?
How many failures to deliver has the current Transfer Agent found?
explain please as to who verifies the stock certificates.
For the seventh time, the compliance officer at each brokerage...and verification is made with the transfer agent.
DTCC stock lending program...is done between brokerages based upon what they ledger as their positions at the DTCC.
OHBULL Securities could claim to have 103 Million BCIT shares on hand and report that position to the DTCC. DTCC just enters that number. It's always...and will always be..the brokerages who are either honest or fudging their account positions with the DTCC.
Don't like it? Demand a real time accounting system where the brokerages no longer can control or alter the ledger. The current system is set up like a crappy bank where I can go into my account and just add money
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