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re: How will BR/LSU/TAF handle the Stanford crisis?
Posted on 2/20/09 at 10:02 am to SlowFlowPro
Posted on 2/20/09 at 10:02 am to SlowFlowPro
I have no sympathy for anyone who was stupid enough to think an 8% (or higher) CD was a legitimite investment.
Just like I felt no sympathy for the Enrom employees who put their life savings in the stock of one company.
That said, there are not that many people who would have put over 500,000 in these illegitimate brokered CDs, which is what the SIPC will cover (and therefore a lot of people will get their money back). As has been mentioned, a lot of the money at Stanford was in legitimate securities.
Just like I felt no sympathy for the Enrom employees who put their life savings in the stock of one company.
That said, there are not that many people who would have put over 500,000 in these illegitimate brokered CDs, which is what the SIPC will cover (and therefore a lot of people will get their money back). As has been mentioned, a lot of the money at Stanford was in legitimate securities.
This post was edited on 2/20/09 at 10:03 am
1
Posted on 2/20/09 at 10:14 am to JPLSU1981
quote:
That said, there are not that many people who would have put over 500,000 in these illegitimate brokered CDs, which is what the SIPC will cover (and therefore a lot of people will get their money back). As has been mentioned, a lot of the money at Stanford was in legitimate securities.
Can you go into more depth? Does the SIPC cover "offshore CDs"?
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