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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (183762)7/26/2002 1:04:19 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
<<A broker buddy of mine is trying to tell me that MM funds are SIPC insured>>

That's bullshit...they don't insure against the fund "breaking the buck", only against insolvency of the firm as a whole. Of course, when that happens, good luck collecting!<NFG> However, I know you have a Merril account, and they bought some crappy fleabag bank so they could deposit bagholder money there FDIC insured...I beleive that's called an "ML Banking Advantage account". Well worth asking about, since yer already there.
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