It is not a non-answer. The cash goes into the segregated client account pool. In the extremely unlikely event we burn through over $7 billion in equity and need to rely on SIPC protection, there is no way to determine what SIPC will do. The segregated cash stock balances of course are managed extremely conservatively, nothing off balance sheet etc. As for using fully paid vs margin, we are not a charity and certainly use margin stock when possible but then again we wouldn't seek external lending if we needed to either. However we do to the tune I believe in the billions. SYEP income to some clients, is also substantial - very substantial. It is completely optional to opt in. I personally do and have rec'd some modest income and take a simple viewpoint. To me it is simple, if I can earn a few extra bucks, why not.