I checked bankrate.com and decided to put my money in Ascencia Bank’s money market acct., currently paying 5.35%. It has a higher star rating than Emigrant or ING and pays higher interest. I do worry somewhat about not having FDIC insurance on the amount over $100K, since I have substantially more than that in the account. I checked the bank’s recent earnings report and they claim to have no exposure to subprime loans. Hope they’re not liars like Countrywide. I considered parking my money in my Scottrade acct, since they pay 5% for amounts over 1M, but I wonder if it’s really any safer there. Any thoughts?
