(no subject)
As some of you might know, I work for a financial company. One of our investment analysts recently published a piece that I thought was pretty awesome. It doesn't talk about which (if any) bank to invest in right now in order to make a buck. It dispels the urban legends around what happens to YOU if your your bank fails. Here is the main point:
The FDIC guarantees $100,000 per person per institution
Note that the figure is per person, not per account.
So even if your bank fails, even if it's bought by another bank or taken over by the US Govt, your money under 100K is safe. You won't have to wait 3 years to get your money; you would have immediate access to it.
If you're lucky enough to have over $100k with one bank, putting some in another bank would be a way to hedge your bet if you're worried about your bank failing.
And now back to your regularly scheduled programming....
The FDIC guarantees $100,000 per person per institution
Note that the figure is per person, not per account.
So even if your bank fails, even if it's bought by another bank or taken over by the US Govt, your money under 100K is safe. You won't have to wait 3 years to get your money; you would have immediate access to it.
If you're lucky enough to have over $100k with one bank, putting some in another bank would be a way to hedge your bet if you're worried about your bank failing.
And now back to your regularly scheduled programming....