[Scoundreller]

> more due to customers moving their assets from cash (Schwab pays a pitiful 0.5%), and into higher-yielding assets (like treasuries or money market funds). The assets stay on Schwab, but it still decreases Schwab's deposits and liquidity.

Also decreases Schwab’s ability to earn profit. They used to be able to give you 0.5% and take it to the market for more. If that source of profit evaporates, that hits their corporate equity.

As long as they have enough equity to burn through, they’ll be okay for customers. Businesses become less profitable all the time, but remain going concerns. But if expenses exceed revenue for the foreseeable future…