To: E. Pluribus Unum
When MF Global went bankrupt, those holding treasuries suffered haircuts as the segregated funds losses were divided equally among all the clients, no matter what the assets were. But, that was a commodities brokerage, not a stock brokerage. At a stock brokerage, you would have SIPC protection which does apply to cash, up to $250 k IIRC. (But, how many assets can SPIC afford to protect?)
2 posted on
04/02/2013 6:48:50 AM PDT by
coloradan
(The US has become a banana republic, except without the bananas - or the republic.)
To: coloradan
(But, how many assets can SPIC afford to protect?) Probably less than the FDIC.
4 posted on
04/02/2013 6:51:03 AM PDT by
E. Pluribus Unum
("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
To: coloradan; Jack Black
Is there anything you can think of to protect your savings?
If you buy a safe and put all your savings in it, the government could confiscate it just because they consider large quantities of cash to be evidence of criminal acts.
5 posted on
04/02/2013 6:55:41 AM PDT by
E. Pluribus Unum
("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
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