"Elizabeth Richardson" <erichktn[at]worldnet.att.net> writes:
- quote -

In fairness, it's a bit more complex than that - Lehman owns
Neuberger-Berman, an asset management and mutual fund company.
And both Vanguard and Fidelity also own brokerage services
companies in addition to their asset-management and mutual
fund businesses.

That said, in all cases, the asset-management parts of the
companies are all doing quite well. When Lehman gets broken
up, N-B will in all likelihood keep operating just as they
have been, as a profitable business, whether standalone or
if they are owned by someone else.

Moreover, the solvency of a fund management company like
N-B, Vanguard or Fidelity is quite distinct from the safety
of the funds one owns. When you own shares of a mutual
fund, the fund *itself* is an independent entity separate
from the people who the fund pays to manage the money -
the shareholders in a mutual fund own the assets inside
the fund. If the management company goes under, the fund
hires a new management company.

It gets just a touch more complicated in that there are
really more entities involved than just fund shareholders
and a management company - there's also the fund sponsor
who put together the fund in the first place (often by
putting up the seed money) and who hired the management
company and original fund board of directors. In the
case, again, of Vanguard, Vanguard is the sponsor -
and Vanguard is owned cooperatively by the funds it
sponsors. And Vanguard either acts directly as the
fund manager or it hires third-party fund managers to
do the portfolio management (ie. Wellington manages a
lot of money for Vanguard).

At the end of the day, though, your fund holdings are
as solid as the portfolio the fund itself owns, NOT
the management company.

So the more important question is not one of who is
the management company for your fund, but rather,
in what is your fund actually invested.

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"Elizabeth Richardson" <erichktn[at]worldnet.att.net> writes:

- quote -

The thing that was going bankrupt and is now apparently about
to be bought by the Federal Reserve is the holding company.

The entities that issued the annuities, etc. are legally separate
subsidiaries of AIG with their own separate from the holding company
capital reserves, regulated by each state they operate in.

--
Rich Carreiro rlc-news[at]rlcarr.com

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"Chip" <chip.wood[at]ieee.org> wrote in message news:gapfgq$4gj$1[at]aioe.org...
- quote -

Vanguard Annuities are issued by Lincoln Life & Annuity Company of New York.
One has only to look at Vanguard's website.

However, your question about AIG is of interest, so if anyone would care to
wade in and profer a guess . . .

Elizabeth Richardson

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John A. Weeks III wrote:

- quote -

I also believe Vanguard's annuities are through AIG. Another NAME to be
concerned with today.

If AIG goes down, how "Insured" are their Annuities? by who?

Chip

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In article
<36307056-548c-4c66-9c27-6d4d20d5d538[at]n33g2000pri.googlegroups.com> ,
Stephanie <stephie21[at]charter.net> wrote:

- quote -

In general, retail brokerage accounts are insured by the SPIC,
which is kind of like FDIC for stocks and mutual funds. But since
there are all kinds of accounts and all kinds of relationships
you can have with Vanguard, your best bet would be to call them
and ask. Don't rely on what someone says on a website.

- quote -

If you are insured, everything will probably be OK. The insurance
companies step in and work fast when needed. If you are over the
account limits, they you should go to other companies to stay
covered. I have a thin streak of paranoia, so I keep accounts
at two different brokerages.

- quote -

Note that insurance only covers the risk of a brokerage house
going under, and not being able to deliver your account to you.
It does not cover investment risk. So, if you invested in Lehman
stock, you do not get covered for the fall in the stock price.
You do get covered if Lehman is not able to deliver your stocks
and bonds to you, that is covered.

-john-

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Newave Communications * * * * * * * * * * * * http://www.johnweeks.com
================================================== ====================

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On Sep 15, 3:48*pm, Jane <googlemail2...[at]yahoo.com> wrote I'm
surprised nobody else asked this. *Maybe it's just too dumb aquestion, but what the hell > How does a company like Vanguard or
Fidelity compare to Lehman> Bros.? * I am, of course, concerned about
bankruWow, Jane, we are of like minds!! I have just been all over the
Vanguard*site trying to find an answer to this. My concern is that we
have all*of our funds at Vanguard; this includes IRAs and a joint
account. I*know banks are covered by FDIC and there is a limit of
coverage. But*are we foolish to have everything at one company? We are
diversified*amoung bond and stock funds and even hold some non-
Vanguard funds in*the accounts. Thanks in advance for response

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"John A. Weeks III" <john[at]johnweeks.com> wrote in message
news:john-0D2F05.19320715092008[at]comcast.dca.giganews.com...
[at]yahoo.com> wrote:
- quote -

This does not pertain to Lehman's bankruptcy at the present time. Lehman's
brokerage services were not included in the Chapter 11 filing.

Elizabeth Richardson

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In article
<9fec0324-8868-446e-be49-1019123f16d5[at]b1g2000hsg.googlegroups.com> ,
Jane <googlemail2003[at]yahoo.com> wrote:

- quote -

Hardly a dumb question on a day like today.

Check with your broker and ask if your accounts are covered
by SIPC insurance. Most major brokerages carry that insurance
for retail accounts. Most have limits that start at $250K
or $500K, but the limits can vary (which is different from
FDIC), and the limit on cash is normally smaller.

-john-

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"Jane" <googlemail2003[at]yahoo.com> wrote in message
news:9fec0324-8868-446e-be49-1019123f16d5[at]b1g2000hsg.googlegroups.com...
- quote -

The simple answer is that Vanguard and Fidelity are mutual fund companies,
Lehman Bros is an Investment Bank. Entirely different.

Elizabeth Richardson

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I'm surprised nobody else asked this. Maybe it's just too dumb a
question, but what the hell:

How does a company like Vanguard or Fidelity compare to Lehman
Bros.? I am, of course, concerned about bankruptcy.

I apologize if this is a really dumb question but most of my
retirement money is in Vanguard funds.

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