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Technology Stocks : CheckFree (CKFR)
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To: Brian K Crawford who wrote (6268)7/25/1998 7:24:00 AM
From: jjs_ynot  Read Replies (1) of 8545
 
>>> But where is our money warehoused? It isn't at "any" portal...its at some designated safekeeping agent....our designated settlement point. That duty won't go to uninsured, unregulated companies, IMO. That's the FI edge.

That's why you will always have depository institutions keeping the master books of how much is in your account and what transactions have transpired. The depository can be a bank, a money market fund, a mutual fund, a credit union or some other financial repository. However this can be at any distance. Look at NTBK with no tellers and no bank building. You may very well have that depository relationship with a mutual fund company in Sri Lanka or Israel if you can get a better interest rate there.
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