I suspect you're right re banks being the exemption access point because I think the exemption is a real account instead of merely being an ID#.
Bank of America, for example, offers "The Private Bank" on their home page, though it's made to appear to only be for wealthy clients.
As for banks being trusts: it reminds me of what Jean Keating claims. According to his research, banks are merely pooling and servicing organizations acting as fronts for trust companies. This may be true for many of them (esp. the newer ones), though we've seen older bank buildings that read "So-and-so Bank & Trust Company". I suppose having both entities as one would be advantageous in one's dealings with it. Furthermore, he claims the only entitity that can effect settlement and closure is the DTC, as they are the registered holders/owners of all securities. In a sense, the trust companies, brokerages, etc., are DTC fronts.
Quote:
|
Originally Posted by Leiahi
(a dangerous word here) I believe...the access point of the exemption account is "through" a bank, in order to get to the discount window. Their policies don't allow us "common" folk the luxury of access now that they've monopolized the system (by computer)... in that token, we wouldl need to go through the private banking side as you say. Who or where and how to go about this?? (most banks are trusts, discharging against them prove fatal, like the BoE's)
|