I once had a pretty screen shot at my broker- showing me with a profit of $1.1 billion.......I called one of my traders over to see "how the master does it"--hahhahahah. He was floored for a couple minutes anyway!
Sorry to rain on your parade, but if you knowingly withhold information about the mistake then you're committing a crime. You should report it asap for both legal and ethical reasons. Uni
http://story.news.yahoo.com/news?tm...e_mi_ea/interrogating_saddam&cid=540&ncid=716 Since Yassin was assassinated as a head of a possible terroristic network/militant group, having no lawful trial, with US government's backing and support, why doesn't the US government just blow Saddam's head off under the same contention as an "Islamic extremist"? Saham... not Saddam
I would like to see how it would be determined to be a crime. There may be a statute to support you on this but without knowing the specific wording I just can not believe such a law would be constitutional. There was no mens rea. The money showed up in his account. I just do not see how a person could be tagged with a duty to act to correct anothers mistake. (we are talking criminal law not civil) Disclaimer - this is a theoretical argument, I might be wrong. By the way a friend of mine had an extra 10 g in his account at a retail futures broker. He said it was not his multiple times. He talked to a high ranking guy. The guy said the money was his. He closed his account and kept the money, figuring a mistake like that would lead to others.
I'm not an attorney so I don't know the specific statute but I seem to recall a case not too long ago in which a person received and erroneous deposit into his or her checking account at a bank. That person promptly set about spending the windfall but as soon as the error was discovered, the bank initiated legal proceedings to recover the funds. If I'm not mistaken, that person faced criminal charges. The bottom line is, the money is not yours. It belongs to someone else regardless of whether or not it was placed into your account by mistake. You have no legal ownership of the funds. Here's an illustration: If an armored car was involved in an accident with your car and a bag of money happened to end up in your car somehow, you can be damn sure the institution that owned the money would do everything possible to get that bag of money back. Just because the bag ended up in your car doesn't mean ownership was transferred to you, it still belongs to the institution. If you drove off with the bag and proceeded to spend the money, you would most certainly be arrested. Same concept with the brokerage situation. Even if it were legal because the broker made a mistake, where are your morals? What if that were your $50 million that ended up in someone else's account? You would want it back, wouldn't you? IMHO, the breakdown in ethics so prevalent these days is creating a crisis in our society. I know, these kinds of things have been going on since the beginning of time, but it has to stop if we want to move forward philosophically. What does this say to our kids? What has happened to the concepts of equality and shame? I could go on but I won't. You all know who you are. Uni
Clinton knowingly invented a "surplus budget" that was false because it was just a transfer from the retirement money to an other budget's gov (this doesn't remind you of corporates accused of frauds by the same gov because they were doing the same with accounting transfer ?), that then Bush "just" continues to exploit for making his war spending for the profit of Halliburton and carlyle group (main investors ... Ben Laden Family) so that surplus budget, which comes from retirement funds and that has never existed in truth has now been poured into the pocket of the thiefs. And this retirement budget that has been stolen, if you don't remember or know, has been created before by Greenspan who asked for doubling this social tax under the pretext that retirement will be a problem; of course it will be a problem if each time retirement money is just pumped out haha ! When the problem is created mostly by those who denounces it to even more profit from it... This was done with the complicity of nearly the whole Congress except a few that denounced the accounting fraud vainly. So you can count on them also for counterbalancing the gov's thiefs and defend people's money and taxes. Now if people weren't so dumb to ignore that debts = defered taxes in future, and the more it is defered the more heavy it will be so your children or little children risk to become slaves of gov. Everybody will have to work for gov because individual properties through tax pumping higher and higher at each generation will be just be erased at long term except for a very very few.
Uni, you are clearly out of your mind. I see a bright career for you as a monk. Yours Take the money, buy a prosthetic nose and run, Trader
The next time your broker seems very anal about a particular issue, potentially questioning your integrity, please consider this thread as a reason. Unfortunately, brokers have to set their own rules to the lowest common denominator. This level often reflects the "lowest" level of integrity in their customer base....