US News and World Report offers a perspective I’ve been waiting to hear. The average Joe can’t predict whether a bank will fail. The experts can’t predict it! More importantly, the average Joe doesn’t need to predict that. Simply make sure your bank is on the list of FDIC insured institutions, then make sure you’ve got less than $100,000 in that bank (or $250,000 in a retirement account with that bank), and stop worrying.
As a bonus, the comments thread on this story is a real hoot! It took a mere 3 comments to devolve from on-topic questions and cogent, sourced answers to a comment along the lines of we’re going to hell in a handbasket so “plant seeds, buy water filtration systems and … have ammo and weapons” on hand. Too jaw dropping to miss.Related Posts
- FDIC Shuts Down IndyMac Bank
- Bank Run at IndyMac
- IndyMac Goes Down (courtesy of the AZ Mortgage Guru)
- Did Senator Shumer Worsen IndyMac’s Woes? (courtesy of Realtor John Wake’s AZ Real Estate Notebook)
Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.
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