IndyMac Bank Failure...Funds Worth 50cents On The Dollar

[Cloak & Dagger]

any deposited money over $100,000 is not insured by the FDIC

I just seen on NBC news that any monies over that are now worth 50cents on the dollar....and people have to even wait for that to be returned

is this a trend we will see with other banks in the United States?..I never heard of "Indy Bank"..but they were in California

why exactly are we in Iraq again??

and who is getting all the money???

[Cloak & Dagger]

oh.....guess you guys just keep all ur funds in offshore gambling sites and dont use banks in the US

[rm18]

oh.....guess you guys just keep all ur funds in offshore gambling sites and dont use banks in the US

yep, but I've always taken that 100,000 FDIC thing seriously and would never have more than that in a bank account

[JC]

In all of the past FDIC bailouts, they covered accounts over $100,000 100%.

[Cloak & Dagger]

In all of the past FDIC bailouts, they covered accounts over $100,000 100%.

thats not what was reported today....

[jjgold]

Two causes of ruined USA Economy

Bush
USA Support Of Israel

[Cloak & Dagger]

Two causes of ruined USA Economy

Bush
Jews

Bush...Yes?

Jews??

explain please jj

I would love to hear ur angle here....you're sharp as a tack with these things

[JoshW]

So are they covering 100% over 100k or not. From the taking on GMA this morning, it certainly seems to be a concern.

[Helmut]

I'm starting to think my money at betcascade is safer than any money in an U.S. banking institution.

[Justin7]

There are some other cases where they cover more - I think certain retirement accounts have a higher limit.

I say get rid of the FDIC. Why should the government bail out banks? If you loan money to someone, know them.

[JT16]

There are some other cases where they cover more - I think certain retirement accounts have a higher limit.

I say get rid of the FDIC. Why should the government bail out banks? If you loan money to someone, know them.

If you get rid of the FDIC, no one would put money in banks. You know what would happen from there right?

[RageWizard]

What dumbass has more money in an account than it is issured for. People with this kind of dough have the money working for them in other areas of life, and not just sitting in a bank even at money market rates.

[HedgeHog]

What dumbass has more money in an account than it is issured for. People with this kind of dough have the money working for them in other areas of life, and not just sitting in a bank even at money market rates.

You're right, there's no excuse for not getting 100% FDIC. Say a husband and wife have 400k to invest in some great CD rates at Capital One. The Husband and wife can each have 100k individually---fully covered. And they can also set-up a joint account for $200k ( which allows another 100k FDIC for each). All 400k is fully insured. (just remember to draw out the interest monthly to a non-Cap One account, so as not put your accumulated interest at risk).

People with money should spend a few minutes to learn how FDIC works...it's not that difficult.

[The HG]

any deposited money over $100,000 is not insured by the FDIC

Any deposited money under $100,000 isn't insured against inflation by the FDIC either.

[pavyracer]

All my money is in Swiss banks. Let the motherfcukers of Indybank burn and don't bail them out for their stupidity.

[Marigold HD]

That's why it's a better idea to have more than one bank account.

[fiveteamer]

or how about not deposit your money in something called "indyMac"? I've never even heard of this bank until now.