Certificate Of Deposit
me and a friend have a guy who has a 90million dollar certificate of deposit and we are looking to borrow against it for various projects. but the bank wont do it cause the loan amount so we are looking for other ways to do it. we also have a ton of stock on the pink sheets and would like to borrow against that. any ideas?
Is your friend's name Jed Clampett by any chance and is the banker Mr. Mooney?
Better tell your friend that CD's are only insured up to 100k per investor per institution. If the bank goes belly up your friend looses 89.9 million. Either he can find 899 other banks to buy CD's with or what I would suggest, put it into U.S. Treasuries. It's one stop shopping for large sums of money which is backed by the full faith and credit of the US government.