From: douglas@panix.com   
      
   Peter T. Daniels  wrote:   
   : Coincidentally, yesterday afternoon NPR had a brief feature on the   
   : increasing uncertainty surrounding money markets, and last night   
   : Channel 2 News passed on a warning from some oversight body   
   : that services like Paypal and Venmo are not a good place to maintain   
   : a balance. (And they're targets for hacking.)   
      
   Can't say I disagree with them on PayPal and Venmo.   
      
   I've had a PayPal account since they were giving them away with $5.   
   At one time, they were actually a money market account, paying interest.   
   They eventually realized they'd need to be bank in order to do what   
   they were doing, and therefore they stopped paying interest on assets   
   held with them.   
      
   Those on-line pay services aren't really banks or brokerage houses.   
   I would never use one as a vehcile for saving or storing money.  When   
   rates were at/near zero, it didn't matter.  That's not the case   
   anymore.   
      
   I had a decent amount of money in my PayPal account, as it was the   
   default place my StubHub sales went.  I had a moment when I saw the   
   balance, and quickly took action to move the money elsewhere.  I am   
   sure that many keep money in those account simply becuase of   
   convenience.   
      
      
      
   --   
       "How would you like it if you were a business executive, and when you   
          made a mistake, a red light went on and 18,000 people started   
                      screaming?" - Jacques Plante, goalie   
                   METS = My Entire Team Sucks    GO RANGERS!!!   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)