Look Out Below
June 21st, 2007 by 
reality
From today’s “Ask Fleck” (reader emails on Bill Fleckenstein’s site): “Fleck……..My B/D is going under after our clearing firm NFS (owned by Fidelity) made a margin call upon repricing CMO’s held by my firm. This seems like the real thing because if Fidelity is repricing, everyone else is going to follow.
I’ve spent over a year preparing for trouble and its still going to be damn painful. However, at least my clients and I will be survivors in part thanks to information provided by you.”
Posted in Bill Fleckenstein, Fixed Income, Stocks | 