[FoRK] bank restrictions? wtf?
Dave Long <
dave.long at bluewin.ch
> on >
Mon Jun 19 14:35:42 PDT 2006
So today I received a letter from a BofA subsidiary stating that,
indirectly due to SEC regulations, as of 14 Aug 06, transactions for
shareholders who hold accounts with a foreign (not within the US or its
territories) address will be limited to redemptions only. Even
exchanges between existing funds within the same account will be
What's next? Direct capital controls? Whatever happened to
globalization -- don't these people read enough Friedman? So who has
been successful with autarky, anyway? North Korea? Mao-era China?
(there's another well-known example, but it runs afoul of Godwin)
At least I can still sell.
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