积重难返的证券公司从来没有像今天这样引起广泛的关注:在一系列大型或者中型券商出现问题或者被接管、或者被重组的同时,还有一些券商在低迷的市道中绝望地等待,期望奇迹的出现。券商们常常会相互自嘲说,我们现在是在潜水比赛,看谁憋气的时间长,看谁最后被憋得受不了浮出水面。实际上,股市的下跌、券商保证金托管制度的改革,都只是导致这一困境的导火索而已。最为关键性的原因, Ever-weaker securities companies have never been as widespread as they are today: while a series of large or mid-size brokers have problems or been taken over or reorganized, some brokers wait in desperation to wait in the hope of a miracle . Often, franchisees laugh at each other, saying that we are diving now to see who is suffocating for a long time and to see who can not stand the last Bie surfaced. In fact, the fall of the stock market and the reform of the securities depository custody system are only the trigger for this predicament. The most crucial reason,