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Toddo on TV: Is Your Money Market Safe?


Markets, movers and more.

Is the stress on Wall Street filtering down to Main Street? Todd says it has become vital for people -- traders or not -- to educate themselves on what's happening in the markets. It's hard to consider anyone '"safe," even in so-called money market funds. Note the distinction between a money market fund and a money market deposit account at a bank. A money market fund is essentially a mutual fund and isn't FDIC insured. In contrast, a money market deposit account at a bank is FDIC insured up to $100,000 - and up to $250,000 for some retirement accounts. For a comprehensive discussion on this see Kevin Depew's article Money Market Fund Investors Catch the Fear.

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