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Though brokerages offer insurance up to 25 million, if you look at the small
print you'll see that the cash part of the account has only minimal
insurance. Might be a scary thought to day traders, and to those who are
mostly in cash during down markets.
Regards,
Michael Suesserott
-----Ursprüngliche Nachricht-----
Von: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]Im Auftrag von neo
Gesendet: Tuesday, November 14, 2000 23:20
An: metastock@xxxxxxxxxxxxx
Betreff: Broker Financial Security
Everything I look at seems to point to a severe downturn in the market and
the economy. Money is flowing into FDIC CDs. Business Week recently had an
article on the lack of liquidity and that there are many bad bank loans. The
charts show a down trending 200 day MA with lower lows and lower highs.
Consumer spending is slowing.
If we have a significant downturn how secure are these various brokers,
particularly the newer inexpensive online brokers with small market caps?
They have insurance but how secure are the companies they use? Could we lose
all of the money that we have in the hands of our brokers?
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