Floyd Mayweather Jr is HELL of Rich But Still a MORON!

If you are a fan of my blog, you have seen other stories about Floyd Mayweather Jr, the boxer. In my last post about Floyd, I was talking about how stupid he was to be carrying around a bag with $1 million in cash with him and his entourage. Well Yahoo had a new article on yesterday and I was just blown away. Floyd has a SINGLE bank account with all of his money in it. How much money does he have? He has upwards of $123 million in a SINGLE bank account. Why do I keep harping on the single bank account? Well because the Federal Reserve only insures deposit bank accounts for $250,000.00. So if you have millions of dollars in a single bank account and that bank goes belly up, all that the Federal Reserve will reimburse you is a lousy $250,000.00 from the millions that you lost!!! And THAT is why Floyd is a MORON! He should multiple bank accounts in multiple banks and then every month move some money from one bank to another so that your accounts don't go on the inactive list. And PLEASE STOP carrying around the million in cash!!!