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You're being downvoted, likely due to your tone, but I'm not sure the information has been spread widely. Those accounts are insured by SIPC because the funds w
by williamscales 8y ago
You're being downvoted, likely due to your tone, but I'm not sure the information has been spread widely. Those accounts are insured by SIPC because the funds will be used to purchase securities. This is the distinction.
- vasilipupkin 8y agoright. They will rebrand the offering in a way that will be covered by SIPC, but the offering will still most likely happen
- williamscales 8y agoYep. I am curious if they will be able to remake the offering in a meaningful way such that it will be insured by the SIPC and still be a product substantially similar to what was originally offered. I imagine the SIPC wouldn't be overly amused if they see a thinly veiled pretense. The other investment firms that offer interest paying checking seem to do it via accounts at other banks that are FDIC insured.