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the 1 Million USD number only comes from explicit insurance cover than
IB have for thier clients...
--- In amibroker@xxxxxxxxxxxxxxx, reinsley <reinsley@xxx> wrote:
>
> Carl,
>
> If you choose to buy gold ingots or coins, don't leave them in the safe
> of a bank. There is not warranty for that.
>
> Only one account is insured by bank. Here, in France, concerning money
> it's 70 000 EUR maximum , financial products are not involved like
ingots.
>
> I will be surprised that CityBank Germany apply CityBank US rules. One
> USD million seems a lot.
>
> Best regards
>
>
> sidhartha70 a écrit :
> >
> > 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
<mailto:amibroker%40yahoogroups.com>,
> > "Carl Vanhaes" <carl.van@> 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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