re: Emergency Fund

I guess I was aware of the SIPC - just not the specifics.

In any event - that doesn't necessarily protect in case of a global financial meltdown and freezing of brokerage transactions.

For that matter, FDIC, a government corporation, can't protect from dozens of bank failures.

In each case, they appear to protect invididuals against a single brokerage/bank failure.

I still believe that banks will be liquid longer - if only for a few hours - based on the cash on hand.

I also predict they come back up faster, in a crisis - I stand by my analysis - and maybe I should have argued for banks beyond the somewhat specious FDIC protection.