[amibroker] Broker and bank reliability: leave trading?

["Carl Vanhaes" <carl.van@xxxxxxxxxx>]

I know this might be judged as off topic, but I also know this is a 
general concern across all active traders nowadays: I am based in 
Europe and have a brokerage account at IB. I have no concern about IB 
reliability but they are "only" a broker. And my concern is the banks 
they use to store your and their money, in this case Citibank and 
Bank of America. When you ask they say your account is insured up to 
1 million USD.
Very good but I wonder what would happen if both Citibank and BAC 
failed and went bankrupt. I had a member of my family here which 
funds purchased at his local banker agancy were supposed to be 
insured; until they called him some months ago to say that they were 
very sorry but his investment were 100% lost due to Lehman Brothers 
bankrupcy. He sued his banker (guess what bank: Citibank!!!) but 
nothing so far...
If you can't even rely on your own banker in this financial crisis 
then isn't it time to leave trading until this crisis is over? And, 
in the meantime, buy some precious metal and have it stored in a 
place you can see and touch ??

I like to have your opinions here...

Carl



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