[cashman]

What I meant in response to “the rise and fall of real estate” is that the cycle hasn’t completed itself, like the dot.com bust. Just a technicallity, as I know we are well underway. But it’s too soon to gloat about the fall of real estate as we don’t really know where it’s going to end up. Actually in my area prices have not budged. Sad.

[cashman]

Hate to be a party pooper, but for the record, real estate hasn’t fallen……yet.

[cashman]

Hate to be a party pooper, but for the record, real estate hasn’t fallen……yet.

[cashman]

Hate to be a party pooper, but for the record, real estate hasn’t fallen……yet.

[cashman]

Scottrade says their accounts are insured for $1M in cash and $24.5M in securities through additional insurances they have beyond the SIPC. There is a small catch, that is the money is supposed to be in the account for investing in securities, not just parked there like a savings account. Wonder how they determine that. For cash balances over $1M they pay 5%. Not bad.

[cashman]

Scottrade says their accounts are insured for $1M in cash and $24.5M in securities through additional insurances they have beyond the SIPC. There is a small catch, that is the money is supposed to be in the account for investing in securities, not just parked there like a savings account. Wonder how they determine that. For cash balances over $1M they pay 5%. Not bad.

[cashman]

Scottrade says their accounts are insured for $1M in cash and $24.5M in securities through additional insurances they have beyond the SIPC. There is a small catch, that is the money is supposed to be in the account for investing in securities, not just parked there like a savings account. Wonder how they determine that. For cash balances over $1M they pay 5%. Not bad.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[cashman]

So, any thoughts about putting the cash with the big brokerage houses? They claim $25M in insurance from SIPC, but that’s for securities. What about the cash? There must be lots of people out there that have millions in cash laying around. How do they protect it? It’s too much of a pain the neck to split it out in 100K chunks to dozens of FDIC banks.

[cashman]

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?

[cashman]

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?

[cashman]

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?

[cashman]

Ben Stein was on KNX news radio’s business hour last week and said that there is no sense to the negative reactions on Wall St. for the subprime and credit implosions. He stated figures that didn’t make sense to me, such as the percentage of defaulted loans was only 0.7 percent of all mortages. Like 1 in 147. That’s a far cry from what I’ve been reading. He also claimed that the money lost in just one bad (-300 pt.) day in the stock market was more than all the bad loans put together. So, he was saying why the fuss? I think he should stick to acting.

[cashman]

Ben Stein was on KNX news radio’s business hour last week and said that there is no sense to the negative reactions on Wall St. for the subprime and credit implosions. He stated figures that didn’t make sense to me, such as the percentage of defaulted loans was only 0.7 percent of all mortages. Like 1 in 147. That’s a far cry from what I’ve been reading. He also claimed that the money lost in just one bad (-300 pt.) day in the stock market was more than all the bad loans put together. So, he was saying why the fuss? I think he should stick to acting.

[Author]

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