NEWS ALERT: VG OFFERS NO PROTECTION IN MONEY MARKET ACCTS. . .
If you are using vg for brokerage services, be aware that you are at risk with sweep acct. Cash. if your prime money market acct. Breaks the buck, which it can very easily do with the recent downgrade of us debt, your safe standing cash is just not safe at all. don't be surprised if you look at your account one of these days and see less than the day before on your standing cash you thought was safe in fdic insured sweep acct. the truth is, vg offers no fdic insured sweep acctounts whatsoever. you may want to consider opening an acct with etrade and get up to $500 free cash for doing so. that's right, etrade sweep accts are all fdic insured because they have a bank side to their business that secures the fdic insurance on all sweeps that vg will never be able to offer. i know i'm sleeping alot sounder these days. don't be a fool!!! get out of stocks and get out of non-fdic insured sweep accounts with brokers that don't offer you this protection. you are being set up for a big big wipeout!!!