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A comment on Robinhood Accounts Looted, No Customer Support. Parent comment

Re:Robinhood Accounts Looted, No Customer Support by dmoy on Saturday October 10, 2020 @01:55AM (#24736938)
They don't lose a few bucks, it's insured.

I vaguely recall it's part of FDIC even.

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Re:Robinhood Accounts Looted, No Customer Support by sharkweek on Saturday October 10, 2020 @11:18AM (#24739527)
This isn’t true but appreciate that it’s what most people think. Just gets written off as a loss. Same goes for cashing bad checks, etc.
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Re:Robinhood Accounts Looted, No Customer Support by WalterBright on Saturday October 10, 2020 @02:56AM (#24737123)
> They don't lose a few bucks, it's insured.

That's not how insurance works. If you file claims against the insurance company, they pay the claim, but your rates go up to cover it. YOU wind up paying.

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Re:Robinhood Accounts Looted, No Customer Support by ficklepickle on Saturday October 10, 2020 @03:26PM (#24741219)
I can't believe you were down-voted for that. It is absolutely true. Insurance, especially for things likely to happen, is basically a payment plan.
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