> If they had bought treasuries and put it in a Schwab account it would be safe even if Schwab went bankrupt right? Yes, because Schwab is at best a custodian

> If they had bought treasuries and put it in a Schwab account it would be safe even if Schwab went bankrupt right? Yes, because Schwab is at best a custodian and cannot dip into customer funds for anything at all.