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  • July 11, 2008 at 5:31 PM #13251
    paranoid
    Participant

    I have an account at Bank of America Investment Service. I have an investment porteflio well above $100k in stocks and cash. I have another investment account with Etrade.

    My question is: if my broker goes bankrupt, which may well happen with Etrade and BAC which recently takes on a huge debt carried by Countrywide, is my stock portfolio in danger? or only the cash part above $100k is in danger? I know FDIC guarantee is $100k, but is that for cash, not for stocks?

    July 11, 2008 at 5:36 PM #237888
    jficquette
    Participant

    Stocks are real assets and the broker is acting as custodian. You get all of your stocks.

    I believe Cash accounts work the same as a bank.

    July 11, 2008 at 5:36 PM #238022
    jficquette
    Participant

    Stocks are real assets and the broker is acting as custodian. You get all of your stocks.

    I believe Cash accounts work the same as a bank.

    July 11, 2008 at 5:36 PM #238030
    jficquette
    Participant

    Stocks are real assets and the broker is acting as custodian. You get all of your stocks.

    I believe Cash accounts work the same as a bank.

    July 11, 2008 at 5:36 PM #238080
    jficquette
    Participant

    Stocks are real assets and the broker is acting as custodian. You get all of your stocks.

    I believe Cash accounts work the same as a bank.

    July 11, 2008 at 5:36 PM #238091
    jficquette
    Participant

    Stocks are real assets and the broker is acting as custodian. You get all of your stocks.

    I believe Cash accounts work the same as a bank.

    July 11, 2008 at 5:37 PM #237893
    Coronita
    Participant

    look. No bank is really *safe* right now.
    Just keep deposits under limits.

    July 11, 2008 at 5:37 PM #238027
    Coronita
    Participant

    look. No bank is really *safe* right now.
    Just keep deposits under limits.

    July 11, 2008 at 5:37 PM #238035
    Coronita
    Participant

    look. No bank is really *safe* right now.
    Just keep deposits under limits.

    July 11, 2008 at 5:37 PM #238085
    Coronita
    Participant

    look. No bank is really *safe* right now.
    Just keep deposits under limits.

    July 11, 2008 at 5:37 PM #238096
    Coronita
    Participant

    look. No bank is really *safe* right now.
    Just keep deposits under limits.

    July 11, 2008 at 6:34 PM #237938
    bsrsharma
    Participant

    Securities at licensed brokers usually have up to $500K SIPC insurance. Check the statements to see if you are covered. It is always smart to keep your assets divided at multiple brokerages just in case. I don’t know how long SIPC will take to make good on loss.

    http://www.sipc.org/

    July 11, 2008 at 6:34 PM #238072
    bsrsharma
    Participant

    Securities at licensed brokers usually have up to $500K SIPC insurance. Check the statements to see if you are covered. It is always smart to keep your assets divided at multiple brokerages just in case. I don’t know how long SIPC will take to make good on loss.

    http://www.sipc.org/

    July 11, 2008 at 6:34 PM #238082
    bsrsharma
    Participant

    Securities at licensed brokers usually have up to $500K SIPC insurance. Check the statements to see if you are covered. It is always smart to keep your assets divided at multiple brokerages just in case. I don’t know how long SIPC will take to make good on loss.

    http://www.sipc.org/

    July 11, 2008 at 6:34 PM #238130
    bsrsharma
    Participant

    Securities at licensed brokers usually have up to $500K SIPC insurance. Check the statements to see if you are covered. It is always smart to keep your assets divided at multiple brokerages just in case. I don’t know how long SIPC will take to make good on loss.

    http://www.sipc.org/

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