Open Question
Is money safe in the banks and brokerge accounts? They say it is insured upto
$100k. But my question is, if banks/brokerages invest it in the money market
funds, is it still covered by FDIC? how does it work? In case the bank fails,
wil FDIC surely return our money or they may also fail us?
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deposits under $100K are safe for now, as the fed, like many individuals, is
willing to go deeper and deeper into debt, regardless of the long-term
consequenses.
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what your bank does with your money is on them, FDIC will cover you up to
100,000. in your savings checking, cd's....never had a money market so i've
never read the rules governing them.
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