Listeners' Money Questions Answered
Correction Sept. 25, 2008
In the interview, we answered a listener's question about whether his money was safe in a mutual fund at the brokerage Edward Jones by saying, "[T]hey are not FDIC-insured. ... no, your money is not safe in the sense that it's insured by the government." The answer referred to investment risk and the fact that mutual funds can decrease in value; if Edward Jones were to go bankrupt, the listener's account would in fact be safe because the company is insured through the Securities Investor Protection Corp.