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For his sake, I really hope so. That's just reckless to have that much money without any sort of insurance on it. Especially money that he doesn't directly control (i.e. the bank goes under). I'm really hoping the writer that was following him was financially naive and that his money is really distributed among multiple accounts at several different banks, but is listed under a single account for his sake to keep things clean.And you don't think Floyd would have knowledge about bank collapses before the general public?It's not stealing his money, it's the financial system having a breakdown ala the Great Depression. When the banks went under, the money people had in the bank was not insured so they lost everything. Not saying it would happen again but I wouldn't put anything past this country anymore. If he has his money in overseas accounts, he'd be playing w/ fire w/ the taxes on it since the tax percentage is a lot higher here in the US.
And then you say he's playing with fire by keeping it overseas?
What is he supposed to ?!
Spend it. He'll go broke.
Save it. Too much in one bank (like he's supposed to spread 120M over 5000 banks.
Overseas. He's playing with fire.
I'm pretty sure he has money markets, certain insurances, investments, portfolio combinations of different investment vehicles.... That we just don't know about...
@crcballer: I know your not hating. You're a smart guy...
But you should understand that if his advisors have gotten him this far, then they have a good idea of what's going on.
We had multiple clients who didn't know what accounts they had with us, so we had to keep a list of what they were really talking about when they told us to transfer money for them.