Wednesday, July 16, 2008

Will My Bank Fail??

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.
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