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Money market accounts are not FDIC insured.

They have 'passthrough' FDIC insurance for whatever portion of assets they own that are CDs and other banking issues. The rest of what they own are very short term, very high quality corporate paper.

Furthermore, while they are not FDIC insured, most brokers do insure - or at least individually guarantee their asset value - and no MMF has ever lost value.

While technically true, your statement above ignores the variety of ways in which MMFs are insured or otherwise guaranteed, and basically ends up being a scare tactic.
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