Re: Etrade Potential Bankruptcy?
[ QUOTE ]
wow, I hadn't heard about this. We have a bunch of accounts at ETrade (brokerage, Roth, money market, CDs and a couple of regular checking). The cash positions may exceed $100K. Should I move some of it to another account to be on the safe side?
Kind of sad to see things go bad for them. I even worked on designing their first web site... Got my mortgage (not sub-prime!) through ETrade and haven't had a brick and mortar bank account for about 8 years. Not sure what I'd do if they went away.
[/ QUOTE ]
Read the Etrade website. Brokerage accounts are insured up to $100k in cash in each account up to 4 or 5 accounts. Stock positions up to $500k minimum. Plus they have supplemental insurance beyond SIPC.
Unless people have very large accounts, they'll be okay.
|