A few clients have called wondering if TD Ameritrade was going to join the US Treasury’s Temporary Guarantee Program for Money Market funds. All TD Ameritrade money market shares as of September 19, 2008, are now insured for 90 days.
As you know, never before have any money market accounts had any government guarantee. This temporary government insurance program is a result of the US government’s effort to bring stability into the banking system. To read the document that was sent out by TD Ameritrade, click here.