This argument is interesting, that it's being driven customers leaving banks that aren't adjusting their returns to the new Fed interest rates, but wouldn't Sch

This argument is interesting, that it's being driven customers leaving banks that aren't adjusting their returns to the new Fed interest rates, but wouldn't Schwab be a beneficiary then? https://twitter.com/biancoresearch/status/1634979304755822594 https://twitter.com/biancoresearch/status/163497930475582259... > "And, as this chart shows, THIS IS A PROBLEM FOR ALL OF BANKING, not just SVB. All banks, as I noted the retweet below, thought they could offer 0.50% deposit rates (orange) forever and no one would ever move." > "The sleeping giant, the American public, awoke at 5% (blue). Now at cocktail parties instead of regaling their friends about crypto, Ark, or the price of wheat, they are now bragging how they ditch their near 0% yield savings account for a 4.9% Schwab money market account! How smart am I!!" However not all Schwab accounts are at that rate (this seems to come down to FDIC-insured or not), for comparison to Vanguard / Fidelity see (Mar 1 2023): https://www.mymoneyblog.com/charles-schwab-cash-sweep-options.html https://www.mymoneyblog.com/charles-schwab-cash-sweep-option...