Now Playing: Sirius Right
Topic: Voodoo Economics 101
I am sure many of you have seen the ads for [b]sharebuilder.com['b], and for $4 a transaction it SEEMS the best deal on the internet...but what happens when you need the money???
It COST me $16 to sell this morning, so i'm $20 in the hole on that transaction, but HERE COMES THE KICKER---it takes THREE DAYS before MY money is available, and $14 more if i want it in my bank account by Monday morning!!! So unless you bought Google on the first day, you're out $34.
According to the phone help @ sharebuilder.com, THIS is an SEC REGULATION...so the small time investor is in essence PAYING FOR THE RICH people's ability to buy and sell as is their whim. Don't invest in sharebuilder.com unless you have REALLY disposable income.
MORE on this story as it develops...WAITING to hear from the SEC!!!
Posted by eminemsrevenge
at 1:13 PM EST
