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Wow! That is a GREAT question. What happened to all the folks who had their money with Bear Sterns? With other companies, like E*Trade and Schwab, I've had the stock certificates issued to me directly, so I could personally put them into another brokerage account. Which makes me think that if you owned bonds, those securities are hard and fast and would be issued to you as certificates if the brokerage were to go belly up. However, that is purely an opinion formed by experiences that had nothing to do with a bankrupt broker. I do, however, have stock certificate for a few hundres shares of WCOM around here someplace....
Best of luck to you and I'll be watching for the answer to this one.
BR
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