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Here's how the big American firms are doing: And here's how some of the European firms, which are generally considered to be less capitalized than their American counterparts, are faring:.
Less capitalized peers have fared worse.
Your article implies that by clearing for smaller, less capitalized broker-dealers, Bear , Stearnsis doing something wrong.
"The smaller, weaker, less capitalized carriers have been feeling it," says Calyon Securities analyst Raymond Neidl, "but it has been moving up the food chain".
In the old days, these spaces (once called communes by a generation less capitalized but perhaps no less idealistic) grew organically around shared interests and common themes… and a rejection of what were the prevailing social norms of the day.
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Less-capitalized companies have fallen by the wayside and premiums are likely to rise.
One advantage for less-capitalized small businesses is that hosted VoIP usually offers a flat monthly rate per user and a flat-rate price for the Internet connection usually a dedicated T1 connection.
Today, EDF works with the world's largest multinational oil and gas companies to demand changes to regulations in ways that benefit highly-capitalized firms and undercut smaller, less-capitalized competitors.
Also, the idea of shifting fees to the losing party could induce individuals and less-capitalized companies to not pursue reasonable claims given that a larger company would have more resources, and thus could dump huge fees after a victory on the smaller party.
Yet if banks have been systematically under-capitalized, it's been due not so much to wise management practices but to public polices – deposit insurance, discount-window lending, and government bailout pledges – which typically induce banks to hold less capital than they'd hold in a free market.
But it also accelerated the growth of UberX and, perhaps just as important, forced the less highly capitalized Lyft to introduce its own fare and commission cuts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com