Question: A few years ago, I remember hearing that money market funds were covered by FDIC protection just like certificates of deposit and savings accounts. Are money market funds still FDIC-insured? The short answer is no, money market fund holders don’t have the same (very limited) guarantees that holders of CDs, money market deposit accounts, […]
Former NFL Star, Jim McMahon named in FDIC Lawsuit – Board Member Liability – Asset Protection
The FDIC brought a lawsuit against Illinois Broadway Bank and former NFL player Jim McMahon is one of the seven former board members for the bank. The FDIC is suing to recover $104 million from 17 bad loans that the bank made before it shut down in 2010. We warn all clients about Board […]
THE VAULT: Asset Protection, Cash Alternatives and Life Insurance – UPDATED
In the week ending august 14th another 24 Billion dollars left the securities market for the relative perceived safety of cash. These billions of dollars simply added to the trillions of dollars already allocated that way because of fears of instability in the securities and real estate markets. This large liquidity position has not gone un-noticed, unfortunately […]
