Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?

[stephenNUTS]

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honestly its due to ignorance, laziness and probably personal relationships with their banker if they are big clients. They feel loyalty to their bank even though its costing them money

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[Mark1808]

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"I sure didn't know you had millions! I don't see you in Bobby's room and I can't see how your books have generated millions, but apparently they have. While we are on the subject, what is your net worth (since everyone already knows except me) and what was the source (books, poker, investments?)."

Anybody who plays in Bobby's room is making a mistake unless they stick almost exclusively to the best games AND have a gambling bankroll of at least ten million. But I do play 300-600 most days.

Perhaps you underestimated how many books I have sold (almost a million). Perhaps you didn't realize that my royalty rate is even greater than the usual generous amount that Mason pays because I helped originate the company. Perhaps you didn't realize how much you and others here contribute to my income by frequenting this site.

My Shuffle Master options, renumeration for consultant work, made me a pretty penny. And I did tell everybody on this forum about my Immersion and Taser investments.

Meanwhile I can still knock out at least a hundred an hour playing poker if I feel like it.

I thought all of the above was pretty common knowledge.

But so what. I have less than ten million which means it is ridiculous to think I am bragging about my bankroll. At least 5% of American men my age have more. Probably half of my Wharton classmates do.

I really don't understand how this thread degenerated into all these silly issues.

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Thank you for your candor, I know I gained some insight and I'm sure others did too. I would be very suprised if more than 5% of men 60 years of age and older have more than $10 million net worth. But your point is well taken, you are quite well off, but in desirable areas like Las Vegas or Southern California it is not the Super Rich category by any means. Tap tap on your sucesss though.

Due to the leverage inherhent in banking I would not want to take the risk of putting over $100,000 in any one bank including the mega banks. There is no free lunch in investing, why are B of A rates over 1% higher than the comparable risk free Treasury Bill rate if their is less than 1/2 of 1% chance of them going busto?

I don't see wher you are getting B of A is 1% less than other banks. They are quoting 4.85% for a 4 month CD online which compares very favorably with rates I see on bankrate.com.

[The4Aces]

Hi DS,

If you go to bank of americas website you will eventually see a promotion about getting a 5.1% CD rate.