Is this Citygroup thing going to affect IB?

Discussion in 'Retail Brokers' started by machine, Jul 25, 2002.

  1. machine


    What are your thoughts, guys?
  2. Would you mind not being so coy and lay out what you are getting at?
  3. machine


    Ok, I'm sorry I didn't explain.
    Since IB's bank is Citybank what could possibly happen with IB customers accounts if C goes under? I know it seems unrealistic but who knows, eh?
  4. I forgot abt that. Aren't Citi's problems legal regarding Enron rather than financial? Unless you are counting the rumors about the derivatives exposure. Was Citi part of that rumor?
  5. SIPC. Uncle Sam. Citi ain't going under, eh?
  6. Damn, what are you short C?! ;)

    I think IB is self clearing, aren't they? Citi is just for wire transfers etc. So nothing would happen. Send wires through BoNY instead, lol! So IB going under is what you would have to worry about.

    'course, your acct is covered by the SIPC up to 500k (100k can be cash) anyway, and IB probably has additional insurance on top of that (I think I read 10 mill somewhere).
  7. Hey babe, if you're really worried about C going under, I suggest getting those canned goods and underground bunker in shape for the coming apocalypse.

    Not saying it's impossible, but we're still at least a week away from something like that.
  8. If Citibank goes under, we are all going to be driving around in hot rods killing each other for gasoline (i.e. Mad Max, The Road Warrior)...
  9. machine


    These days it's easy to belive in anything. Well, thanks for your response, guys, I'd better get going to Costco while it's still open, lol:)
  10. Babak


    vulture, that sounds like good clean fun. Too bad the Fed would step in and ruin the party before it started by rescuing C.
    #10     Jul 25, 2002