09-11-2006, 08:22 PM
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$ Saving HS Sophomore
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Join Date: Aug 2006
Location: Charlotte, NC
Posts: 176
Points: 2754.60
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Re: Need advice on personal finance
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Originally Posted by Sweepsplayer
GMAC demand notes are very liquid, but they're an unsecured loan to GMAC and they're not covered by FDIC insurance. If something bad were to happen to GMAC, your money would be in jeopardy.
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Yep, exactly! |