AND Schwab sold IndyMac CD's to it's customers, I remember seeing them offered on Schwab's KickBack-based CD selection board (Kick-Backs is my term for the commission Schwab earned from the banks). Now stupid Schwab can earn that commission by having it's employees run around with FDIC mops cleaning up their IndyMac mess. If they screw it up and you are harmed in any way, you can engage the same set of lawyers that's suing Schwab over YieldPlus.
Nice try, but since you don't know jack about Schwab and their money market fund, I highly doubt your post that you saw Schwab offering Indymac CD's.
There have been no reports of any CD that Schwab has offered being taken over by the FDIC. This is a completely meaningless discussion by shorters who are trying to scare people. The truth is in the monthly and quarterly numbers which Schwab just beat.
SCHWAB SOLD INDYMAC CD'S, you're so stinking rich with your HALF MILLION or more (you miserable wealthy societal parasite) that you didn't even know WHY you were getting the sweep feature. All us little folk are getting pounded with a baseball bat by Charlie Schwab. Miserable Bastard. By the way, I love the paragraph about Schwab's "recommendation" about free cash balances. He's hoping that forgetfullness and apathy will keep those earnings rolling in for him, the billionaire stepping on the little people, gotta love it.
Clients with total household assets of $500,000 or more are eligible for a sweep money market fund. For clients with less than $500,000 in household assets, Schwab offers other cash features. We recommend minimizing cash held this way, as there are higher-yielding cash solutions, such as purchased money market funds. Keep in mind that performance data quoted below represents past performance and does not indicate future results. Current performance may be lower or higher.