not if the jig is up and there is a bank holiday. all the short term investment funds are held in dollar equivalents and NOT dollars. if he thinks the real crash and burn is coming and that even brokerage houses will break the dollar per dollar holding account equivalent, then taking it out and holding cash is best. Insured cash in an account is good but if you think the bank are going to be a little stingy with your money...well the back yard is looking nicer.
Well perhaps he should buy gold bullion. That still begs the question as to why he would have $1 million in a checking account. One would expect that to be a sizeable percentage of a professors net worth, even one from HAAARVAAARD!
