by Jeremy Holter » Thu Jan 15, 2009 07:15 am
The Securities Investor Protection Corp. insures brokerage accounts for up to $500,000 each when customer assets are stolen or missing. But if clients of Bernie Madoff wipe out the insurance fund, will there be any protection for everyone else?
In interviews and congressional testimony this week, Stephen Harbeck, SIPC''s chief executive, could not rule out the possibility that its resources might be exhausted by victims of Madoff''s alleged $50 billion Ponzi scheme.
In interviews and congressional testimony this week, Stephen Harbeck, SIPC''s chief executive, could not rule out the possibility that its resources might be exhausted by victims of Madoff''s alleged $50 billion Ponzi scheme.
Posted: Thu Jan 15, 2009 10:45 am Post Subject:
Wow!! I din't know that there is an agency that insures investors funds against brokerage failure and theft. It seems that they also cover against spurious investment schemes.
Posted: Fri Dec 23, 2011 07:03 am Post Subject: VKefcmrrPuIpDcCaHN
Hey, that post leaves me feeling foiolsh. Kudos to you!
Posted: Fri Jun 22, 2012 06:24 pm Post Subject: UkoSvNTlBN
Wow, it looks like the trash value troll has a different YT pofrile for each of his invisible friends. Whole Life where: they keep your saving for the first 2-5 years +. When money does accumulate it’s at 1-4% at best (negative savings when you factor in the 2-5+ years they keep your money.) If you want to access your money, you have to take out a policy loan at 6-8% interest. If you die, they keep your “savings†and deduct any loans from the death benefit. Source: the actual policies.
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