Post #26 by knighttof3 on the Millionaire Shrewds board

Personal Finance Topics / Millionaire Shrewds

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Do any of you have funds in excess of the FDIC minimum anywhere, or stock accounts which might be vulnerable to a brokerage failure, or money market funds that could wobble, given the current state of the banking industry?

Yes. Not worried about it.
In 2008-9 GFC FDIC did not bail out depositors who had excess of limit $100k then, $250k now). FDIC has since learnt its lesson. Pretty sure they will fully cover all deposits now as they did in recent bank failures of SVB etc.

SIPC is an even remoter contingency. I don't think Schwab, Fidelity or Vanguard can "fail" like a bank can, or if they did, they would walk away with my money.

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