Talk of Worst Recession Since the 1930s

[GoUSC]

Thanks for the heads up on Etrade. I had money in an account there. Transferred it to my other account at another company. I don’t need that stress in my life.

[GoUSC]

Thanks for the heads up on Etrade. I had money in an account there. Transferred it to my other account at another company. I don’t need that stress in my life.

[GoUSC]

Thanks for the heads up on Etrade. I had money in an account there. Transferred it to my other account at another company. I don’t need that stress in my life.

[bsrsharma]

radelow: was that a brokerage or bank account? Bank deposit is easy to handle, but I don’t know what happens to stocks.

[bsrsharma]

radelow: was that a brokerage or bank account? Bank deposit is easy to handle, but I don’t know what happens to stocks.

[bsrsharma]

radelow: was that a brokerage or bank account? Bank deposit is easy to handle, but I don’t know what happens to stocks.

[bsrsharma]

radelow: was that a brokerage or bank account? Bank deposit is easy to handle, but I don’t know what happens to stocks.

[gracie]

I have quite a bit of funds in the E trade accounts….What info do you have that makes you believe that a Etrade bankruptcy is upcoming?
I would really appreciate more info…
Thanks.

[gracie]

I have quite a bit of funds in the E trade accounts….What info do you have that makes you believe that a Etrade bankruptcy is upcoming?
I would really appreciate more info…
Thanks.

[gracie]

I have quite a bit of funds in the E trade accounts….What info do you have that makes you believe that a Etrade bankruptcy is upcoming?
I would really appreciate more info…
Thanks.

[gracie]

I have quite a bit of funds in the E trade accounts….What info do you have that makes you believe that a Etrade bankruptcy is upcoming?
I would really appreciate more info…
Thanks.

[robson]

From http://www.sipc.org/how/covers.cfm
“The cash and securities – such as stocks and bonds – held by a customer at a financially troubled brokerage firm are protected by SIPC.

Among the investments that are ineligible for SIPC protection are commodity futures contracts and currency, as well as investment contracts (such as limited partnerships) and fixed annuity contracts that are not registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933.

It is important to recognize that SIPC does not work the same way as the Federal Deposit Insurance Corporation in terms of blanket protection of losses.”

Just make sure the institution is SIPC insured, which Etrade is. Does anyone know if this means you can have a savings account with $100k covered by FDIC and then have a brokerage account with another $100k that would then be covered by the SIPC?

[robson]

From http://www.sipc.org/how/covers.cfm
“The cash and securities – such as stocks and bonds – held by a customer at a financially troubled brokerage firm are protected by SIPC.

Among the investments that are ineligible for SIPC protection are commodity futures contracts and currency, as well as investment contracts (such as limited partnerships) and fixed annuity contracts that are not registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933.

It is important to recognize that SIPC does not work the same way as the Federal Deposit Insurance Corporation in terms of blanket protection of losses.”

Just make sure the institution is SIPC insured, which Etrade is. Does anyone know if this means you can have a savings account with $100k covered by FDIC and then have a brokerage account with another $100k that would then be covered by the SIPC?

[robson]

From http://www.sipc.org/how/covers.cfm
“The cash and securities – such as stocks and bonds – held by a customer at a financially troubled brokerage firm are protected by SIPC.

Among the investments that are ineligible for SIPC protection are commodity futures contracts and currency, as well as investment contracts (such as limited partnerships) and fixed annuity contracts that are not registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933.

It is important to recognize that SIPC does not work the same way as the Federal Deposit Insurance Corporation in terms of blanket protection of losses.”

Just make sure the institution is SIPC insured, which Etrade is. Does anyone know if this means you can have a savings account with $100k covered by FDIC and then have a brokerage account with another $100k that would then be covered by the SIPC?

[robson]

From http://www.sipc.org/how/covers.cfm
“The cash and securities – such as stocks and bonds – held by a customer at a financially troubled brokerage firm are protected by SIPC.

Among the investments that are ineligible for SIPC protection are commodity futures contracts and currency, as well as investment contracts (such as limited partnerships) and fixed annuity contracts that are not registered with the U.S. Securities and Exchange Commission under the Securities Act of 1933.

It is important to recognize that SIPC does not work the same way as the Federal Deposit Insurance Corporation in terms of blanket protection of losses.”

Just make sure the institution is SIPC insured, which Etrade is. Does anyone know if this means you can have a savings account with $100k covered by FDIC and then have a brokerage account with another $100k that would then be covered by the SIPC?

[Author]

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