Penson safe? with so many brokers tied to it...

Discussion in 'Retail Brokers' started by innovest_11, Nov 2, 2011.

  1. So far it seems all brokers still tied to it, not moving to other clearing firm, so it is safe?

    - should i move everything to IB?...

    I look at PNSN, I'm demn worried
     
  2. ASE1245

    ASE1245

    If it make you more comfortable, Penson does not have a prop desk, which is where the losses came from at MF.
     
  3. Right, they aren't sophisticated enough for that, instead they got stuck in a failed loan to a racetrack. Is that supposed to re-assure people?
     
  4. Daal

    Daal

    If any broker that uses Penson makes an announcement please post it here
     
  5. LIghtspeed uses penson to clear
     
  6. zdreg

    zdreg

    nobody has made a bid for them.
     
  7. im out....
     
  8. ASE1245

    ASE1245

    There are no guarantees with ANY prime broker. Look at BS and LEH. Big does not mean safer. In my opinion, if you have assets under the SiPC limits, your spending too much time being concerned with an event you can't foresee. If you have large assets, you'll have to make a business decisions as if you split up your assets. If a large collapse is allowed, counter party risk can take down anyone.
     
  9. benwm

    benwm

    Would they still bail out GS, JPM in today's political climate (OWS etc)? Some say letting LEH fail was a mistake, but politically it might be suicide to bail out the next big one? Would they still burden the taxpayer with banking losses or do they let the next big bank fail?
     
    #10     Nov 3, 2011