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. She's a chow hound, a gym rat, and the only political junkie in the USA who can actually keep her political views to herself. Instead, she focuses on educating her clients about the often-confusing world of residential real estate.
