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Re: Mega is worried!
Dang. I'm worried too. Mega pretty well summarized this one in his opening post -- that's a worrisome change. :eek:.Originally posted by Mega View PostMost folks are good; a few aren't. -
Re: Mega is worried!
I've got my cash holding in Vanguard's US Treasury backed MM account. Anyone think I should be worried? I haven't yet opened a Treasury Direct account despite planning on doing it for over a year as I felt this account would suffice and be more liquid. Guess I should open my Treasury Direct account finally. I'm like a patient who keeps smoking even though I know it's bad for me.Originally posted by ThePythonicCow View Post
Someone here tell me I'm an idiot!Comment
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Re: Mega is worried!
It occurred to me that they might be trying to manipulate perceived risk and move people out of the sidelines and into the pump and dump equities markets. Also, the plan doesn't protect against bond and equity losses, so it is weak protection at best. And, the private protection means that money markets could silently break the buck and be bailed out without much publicity, making the later crash worse. At least if the feds lose patience, they come in Friday and close you down. No ambiguity.
I think smart money would make an orderly departure to safer stuff like FDIC and watch the market eat the investments of those who don't.
just IMHO -- I am neither lawyer nor accountant, just a quiet, observant paranoid.Comment
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