It's a money market fund, right?
It's not FDIC insured, not that FDIC will be able to cover very much once the "bank holidays" start.
It is. It isn't very much money.
You make a good point. If the brokerage firms wanted our money to be safe, they'd have the option of holding it in an FDIC insured bank account. Tomorrow I'm going to try to find out if they have that option.