Similar to other commenters, TD Ameritrade told me the Reserve Yield Plus Fund was a safe place to park cash. I have been out of stocks for many months and had almost all of my cash (aka my life savings) in RYPQX. Yes, a lawsuit against both The Reserve and TD Ameritrade are in order. Where do I sign?
Paul Iannaof FL8:13PM September 18, 2008
Hi of,
This situation is bad, to be sure, but it isn't a "life savings are lost" situation. The worst case scenario is probably being out ca. 3 cents on the dollar. That is not good, and certainly is not the point of a money market fund, but it isn't as desperate as you make it out to be.
Johnof DC8:10PM September 18, 2008
TDAmeritrade sold me on this fund as a safe place to park my cash. Now my live savings may be lost. How might TDAmeritrade be made liable for this????
of 7:52PM September 18, 2008
I want in on this. TDAmeritrade is trying to wash their hands clean.
U.S. News Money takes a contemporary look at happenings in the financial world and aims to help young investors get going with their portfolios--or just sound cool at cocktail parties.
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Paul Ianna of FL 8:13PM September 18, 2008
John of DC 8:10PM September 18, 2008
of 7:52PM September 18, 2008
DM of WA 7:36PM September 18, 2008