as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
can stock brokerage firms fail?
user
yes, the entire financial system is based on trust. as we have seen repeatedly, even the ratings agencies can be wrong and in collusion. you need to understand what products have any insurance/contingency/recourse if things don't go as planned. a lot of people were surprised when they found out sipc didn't ensure futures when mf global declared bankruptcy last fall.
assistant