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Of course that's a fiction, almost all stock in the US is owned by Cede & Co https://en.wikipedia.org/wiki/Cede_and_Company https://en.wikipedia.org/wiki/Cede_
by Taniwha 6y ago
Of course that's a fiction, almost all stock in the US is owned by Cede & Co
https://en.wikipedia.org/wiki/Cede_and_Company https://en.wikipedia.org/wiki/Cede_and_Company
All you own are assignments of that stock
- ClumsyPilot 6y agoI don't thinks this interpretation of 'owns'is accurate, but if it were, it would be even worse than the original allegation!
- Taniwha 6y agoI believe that apart from legacy certificates in a lockbox under grandma's bed (and non-traded private classes of stock) it is actually true. What DTC trades are assignments of stock held by Cede corp, what you own are assignments of assignments held by brokers - it's how you take physical stock certificates and start trading them electronically (back in the 60s)