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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Horgad who wrote (84749)3/23/2001 7:04:15 PM
From: Bill/WA  Read Replies (1) of 436258
 
Horgad,

was in my local bank today to see about opening a MM acct. that i could use for a depository for a treasury direct acct. Lance, the in-house investment counselor from an investment firm, passed by the desk and suggested i talk to him about their MM acct's. i informed him that i had 3 brokerage acct's and wanted a little more security with FDIC rather than SIPC. well, he just could not understand, and infact, didn't even know the difference (i would've thought these guys would of at least had to pass the series 7).

after he left, the woman behind the desk told me quite a few of their high end customers (of which i am NOT one), have been opening FDIC insured MM acct's and rushing into CD's also.

Bill/WA
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