SmartMoney writes "How to Protect Your Cash Now". It says, "Savers with a long view can breathe a sigh of relief. As part of the process of reconciling House and Senate versions of financial reform legislation, lawmakers have agreed to permanently raise the limit on FDIC-insured deposits to $250,000. This agreement doesn't immediately change anything for investors, because the limit had been temporarily raised during the financial crisis. It does remove some uncertainty about what would have happened in 2013, when the limit had been scheduled to revert back to $100,000." In other news, see Asset-Backed Alert "Finacorp Calls It Quits After Brief MBS Stint", which says, "Broker-dealer Finacorp Securities, which made a big push into mortgage-backed securities amid the credit crisis, closed its doors this week. It's unclear why the Irvine, Calif., firm suddenly shut down after 16 years as a fixed-income broker. Some market players speculated Finacorp was unable to raise enough capital to establish a viable inventory of mortgage bonds -- the same problem that plagued now-defunct Utendahl Capital." Finacorp also ran online money market fund portal TradeFunds.
