I had a hunch some action of this sort was coming down the pipeline. The problem is that so many of these companies give the appearance of being fully law-abidi

I had a hunch some action of this sort was coming down the pipeline. The problem is that so many of these companies give the appearance of being fully law-abiding companies, but there isn't necessarily an easy to check that. I found it somewhat alarming that people proclaimed that 9% APY interest could be made, in such a way that it implied no risk, in much the same way cash in an FDIC-insured bank account is well-protected. I think much of this is moving so fast that it's going to take some time before the offerings really come close to offering the same level of safety one finds with an FDIC-insured bank account.