Rachel Louise Ensign

speaker

574 appearances 12 recordings 1 series first heard Jan 2018 last heard Jan 2024

Rachel Louise Ensign’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · ‘Brokered CDs’ Offer Interest Rates Well Above Regular CDs · 26 Oct 2022 podcast

For instance, with a bank CD, if you want your money back before the end of the term, you can get it back.

The bank often charges a penalty.

But with these brokered CDs, you typically have to sell...

the CD on a secondary market, which is typically much more complicated and cumbersome for regular investor to do.

So folks kind of advise to only buy these brokered CDs for a time period that you are committed to having your money locked up for.

Yeah, thanks so much for having me.

WSJ Your Money Briefing · Crypto Lenders’ Investors Wait Out Bankruptcy to Recoup Their Cash · 2 Aug 2022 podcast

They are not chartered by the federal government.

They are not regulated really in any significant capacity.

And therefore, if you leave your money inside one of these, as many people have learned in the last few weeks, you are not getting the protections that a normal bank offers you.

Thanks for having me.

so in the last few years you had people making just tons of money in the crypto markets and what these crypto banks did was they said hey you know regular folks we have a way for you to kind of get in on the money making potential of the crypto market but you know it's super simple you're not taking a huge risk just come and leave your money with us and

The idea was that these were sort of like banks where you would leave your money in a deposit account.

And there was also the other side of it where you could also put your crypto in an account and borrow against it.

So depositing, borrowing, we are just like banks was the message.

And if you're a depositor, we give you rates far, far higher than what a traditional bank would offer.

So that was the pitch.

And that is why people were attracted to them.

So we've been calling them crypto banks, but it's sort of in quotation marks because they really are not real banks.

They are not chartered by the federal government.

They are not regulated really in any significant capacity.

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