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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (117511)	1/14/2009 3:08:07 PM
From: Madharry	Read Replies (1) of 132070

what exactly is the SIPC and who determines whether something is covered under it? It would seem to me that coverage under the SIPC is not an absolute slam dunk. If investors put money into madoff securities directly that is a different story but if they they invest with a money manager in a nonsegregated way and he puts money with madoff why should they suddenly be covered? I assume that if the SIPC has to pay out billions of dollars under this it will likely make the exisiting fund a lot weaker, and I want to continue to be protected as an investor. any thoughts? Ive really had it with all these bailouts and finagling. im still waifing for someone to reimburse me for the decline in my portfolio but it hasnt happened yet.

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