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Non-Tech : The Critical Investing Workshop
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To: bonnuss_in_austin who wrote (34752)3/13/2001 9:39:40 AM
From: Poet  Read Replies (3) of 35685
 
Bonnie and Keith:

Here's the answer I received:

Essentially you're right, Bonnie. Funds deposited with brokers are not insured. There are a few exceptions, but in general, this is the case.

On top of this, if your broker defaulted, you could indeed lose your cash. The concern that a number of people who are watching the global economic picture from a long term view have is that brokerage defaults may indeed begin to happen. The general feeling is to keep as little in a brokerage account as possible.

Scary, huh? Time for me to hunt for safer ground for my cash.
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