Talk of Worst Recession Since the 1930s

[bsrsharma]

gracie – look down below in the other bloggers section. There are two threads about ETrade problems. Simply put, due to subprime mortgages, they may suffer up to $5 Billion losses. They can only take $1 Billion in losses before becoming insolvent. This is the same stuff that happened to Merrill & Citi. Only those were better capitalized and hence didn’t face insolvency (as yet). If ETrade gets hit with $5B loss, I am quite sure it will go under.

[bsrsharma]

gracie – look down below in the other bloggers section. There are two threads about ETrade problems. Simply put, due to subprime mortgages, they may suffer up to $5 Billion losses. They can only take $1 Billion in losses before becoming insolvent. This is the same stuff that happened to Merrill & Citi. Only those were better capitalized and hence didn’t face insolvency (as yet). If ETrade gets hit with $5B loss, I am quite sure it will go under.

[bsrsharma]

gracie – look down below in the other bloggers section. There are two threads about ETrade problems. Simply put, due to subprime mortgages, they may suffer up to $5 Billion losses. They can only take $1 Billion in losses before becoming insolvent. This is the same stuff that happened to Merrill & Citi. Only those were better capitalized and hence didn’t face insolvency (as yet). If ETrade gets hit with $5B loss, I am quite sure it will go under.

[bsrsharma]

gracie – look down below in the other bloggers section. There are two threads about ETrade problems. Simply put, due to subprime mortgages, they may suffer up to $5 Billion losses. They can only take $1 Billion in losses before becoming insolvent. This is the same stuff that happened to Merrill & Citi. Only those were better capitalized and hence didn’t face insolvency (as yet). If ETrade gets hit with $5B loss, I am quite sure it will go under.

[robson]

Sorry that was an incomplete answer to begin with. According to http://www.lpl.com/html/downloads/MKT135faq-1003.pdf “Customer Assets Are Protected By SIPC
In addition, Congress created the Securities Investor Protection Corporation (SIPC) in 1970 to protect
customers of member broker-dealers that may fail or be liquidated. If any securities or cash are missing
from eligible customer accounts, the corporation steps in to replace those securities and cash.
This protection is limited to $500,000 per customer, including up to $100,000 in cash. SIPC does not
protect customers against market risk. (Losses resulting from a fall in a security’s value are not covered.)
See http://www.sipc.org for more information about SIPC.”

I’m just trying to verify that this would cover $100k in cash in a brokerage account in addition to the 100 the FDIC would cover in a savings account.

[robson]

Sorry that was an incomplete answer to begin with. According to http://www.lpl.com/html/downloads/MKT135faq-1003.pdf “Customer Assets Are Protected By SIPC
In addition, Congress created the Securities Investor Protection Corporation (SIPC) in 1970 to protect
customers of member broker-dealers that may fail or be liquidated. If any securities or cash are missing
from eligible customer accounts, the corporation steps in to replace those securities and cash.
This protection is limited to $500,000 per customer, including up to $100,000 in cash. SIPC does not
protect customers against market risk. (Losses resulting from a fall in a security’s value are not covered.)
See http://www.sipc.org for more information about SIPC.”

I’m just trying to verify that this would cover $100k in cash in a brokerage account in addition to the 100 the FDIC would cover in a savings account.

[robson]

Sorry that was an incomplete answer to begin with. According to http://www.lpl.com/html/downloads/MKT135faq-1003.pdf “Customer Assets Are Protected By SIPC
In addition, Congress created the Securities Investor Protection Corporation (SIPC) in 1970 to protect
customers of member broker-dealers that may fail or be liquidated. If any securities or cash are missing
from eligible customer accounts, the corporation steps in to replace those securities and cash.
This protection is limited to $500,000 per customer, including up to $100,000 in cash. SIPC does not
protect customers against market risk. (Losses resulting from a fall in a security’s value are not covered.)
See http://www.sipc.org for more information about SIPC.”

I’m just trying to verify that this would cover $100k in cash in a brokerage account in addition to the 100 the FDIC would cover in a savings account.

[robson]

Sorry that was an incomplete answer to begin with. According to http://www.lpl.com/html/downloads/MKT135faq-1003.pdf “Customer Assets Are Protected By SIPC
In addition, Congress created the Securities Investor Protection Corporation (SIPC) in 1970 to protect
customers of member broker-dealers that may fail or be liquidated. If any securities or cash are missing
from eligible customer accounts, the corporation steps in to replace those securities and cash.
This protection is limited to $500,000 per customer, including up to $100,000 in cash. SIPC does not
protect customers against market risk. (Losses resulting from a fall in a security’s value are not covered.)
See http://www.sipc.org for more information about SIPC.”

I’m just trying to verify that this would cover $100k in cash in a brokerage account in addition to the 100 the FDIC would cover in a savings account.

[TheBreeze]

One of the writers over at realmoney.com said that anything you have in a money market account at a broker may not be covered at all. I believe this is the case for banks as well, as the FDIC does not cover money market accounts either.

[TheBreeze]

One of the writers over at realmoney.com said that anything you have in a money market account at a broker may not be covered at all. I believe this is the case for banks as well, as the FDIC does not cover money market accounts either.

[TheBreeze]

One of the writers over at realmoney.com said that anything you have in a money market account at a broker may not be covered at all. I believe this is the case for banks as well, as the FDIC does not cover money market accounts either.

[TheBreeze]

One of the writers over at realmoney.com said that anything you have in a money market account at a broker may not be covered at all. I believe this is the case for banks as well, as the FDIC does not cover money market accounts either.

[PadreBrian]

What’s the best way to transfer stock out of e-trade without selling? Maybe ameritrade, let’s say?

[PadreBrian]

What’s the best way to transfer stock out of e-trade without selling? Maybe ameritrade, let’s say?

[PadreBrian]

What’s the best way to transfer stock out of e-trade without selling? Maybe ameritrade, let’s say?

[Author]

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