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The article suggested that some of the brokerages may not seek repayments from their clients that owe them money. Why is that? I assume the contracts they sign
by dantiberian 12y ago
The article suggested that some of the brokerages may not seek repayments from their clients that owe them money. Why is that? I assume the contracts they sign are iron clad, is it just that the losses are so large that their clients couldn't repay it?
- justincormack 12y agoConsumer contracts (vs business ones) are rarely "iron clad". The idea you can go to someone and say ok you know you were doing some gambling with a stake you paid me, well you lost and now I want $200k is not going to go down well.
- ryanjshaw 12y agoMany of these clients are from all over the world. It's probably going to be impossible to enforce a claim on the liability. By keeping the clients at least they keep their ongoing business, which is going to be necessary to repay this loan - maybe they could charge clients a % of their monthly profits for the privilege of not having their accounts closed? It will be very interesting to see what happens.