Originally Posted by DaFace:
I suspect you're hearing some hyperbolic numbers here. Lockheed Martin only has ~$50B in assets, and they're not exactly a "small startup."
Christ, I've been saying Billion, it's million not billion. Sorry for the accidental hyperbole. [Reply]
Actually, as I dig around a bit, I think they're mostly an investor rather than our "bank." So we're in the assets column rather than the deposits column. Still, could get interesting to see how that plays out. [Reply]
That makes me want to puke just thinking about it. And I can’t wrap my head around 50B.
****.
Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks. [Reply]
Originally Posted by SLC.Joe:
Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks.
I’m setting up a similar deal with a different outfit, but I haven’t finished it yet. I’ll definitely look into Fidelity though, thanks. [Reply]
Makes you wonder if you should have all assets over $250k separated into different accounts/institutions to protect from something like this. I've always been told no, it's not needed, however.............. [Reply]