Worry About Bank Deposits

. Monday, September 15

It's coming sooner than later, and an article today said that there is already a slow run on commercial banks.

That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
Keep in mind that the FDIC only covers up to $100,000 in any one account.  The FDIC has a "troubled bank" list, but it is only good up to June. Who knows what's been happening since then.

2 comments:

Grandy said...

Hey, you're making changes over here. I like.

I'm off to go get my money and buy a big coffee can now. ;)

Theresa Komor said...

If I'm not writing, I'm tweaking, it seems. LOL

I don't know what the answer is to this mess, Grandy. Just be careful and watchful, I guess!