[amibroker] Re: Broker and bank reliability: leave trading?

["sidhartha70" <sidhartha70@xxxxxxxxx>]

Carl,

I think the US government have drawn a very clear line in the sand
post the bankruptcy of Lehman. Citibank & BOA aren't going to go
bankrupt... will the be nationalised...?? That's a different debate...
but either way, depositiors are safe.
That's my view.

--- In amibroker@xxxxxxxxxxxxxxx, "Carl Vanhaes" <carl.van@xxx> wrote:
>
> 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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