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After I attempted to give some sound advice,and reply to your post....your reply of "I am too lazy to figure out where to put my MILLION dollars"...this is either a thinly veiled brag post..or just plain STUPIDITY
There are PLENTY of 2+2 members in BFI,that would LOVE to have "your million $$$ problem"...and would digest any useful information this forum may produce from the many intelligent posters.
This is a "NICE" example you are setting(LOL)... for the younger/novice investors,as I would expect MUCH more from you.If you can compute,compare or even care about your <.05% loss worry.....what was the purpose of your post in the first place?
Just drive to the nearest BOA branch...tell them how lazy you are.....deposit your $1MM in ONE five year CD at whatever interest rate they give you,....and "hope" your principle + interest is still there in 2012
I am pretty shocked right now,as I guess I would expect more from someone like you in BFI
I am also THRILLED I didnt give you the sound advice I was sincerely going to suggest prior to me asking you some simple questions in my previous post...making you many times more than a standard CD will return w/o risk!
Very Disappointed,
Stephen Feraca [img]/images/graemlins/confused.gif[/img]
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You are way too sensitive. Everybody knows that I have a lot more than a million dollars so how was it bragging? And everybody knows that I know that putting money in the bank is one of the worst ways you can use it. But since I decided to do it purely because I am too lazy to go to any trouble at all for an extra 20K a year, it brought up the interesting question of whether the utterly horrible rate that BofA offers is even remotely related to the diminshment of risk.
I suppose I could have asked the question in that form rather than have embellished it with my personal situation. But that was just window dressing to make the post less dry. I realize you were just trying to be helpful, but as I said, the main reason for my post was that I was curious about the probability that banks will lose uninsured deposits. It was really a political question that justhappens to have a tiny effect on my life. If I heard anyone else on this forum put a million dollars in a bank CD, I would have them flogged.
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David,
i think we all know the real solution to the problem of you having $1million you don't want to have to worry about +/- 20k:
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Barron