FDIC insurance........reliable or not?

[hlacheen]

Some individuals are paranoid.

Funds are safe up to 100K per account

[gonebroke2]

FDIC will pay out. The FED will just print money to make up any potential shortfalls in FDIC reserves.

[jaydub]

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Some individuals are paranoid.

Funds are safe up to 100K per account

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Historically FDIC has paid in full, the 100K has not to my knowledge been relevant.

J

[cbloom]

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Some individuals are paranoid.

Funds are safe up to 100K per account

[/ QUOTE ]

Historically FDIC has paid in full, the 100K has not to my knowledge been relevant.

J

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WTFBBQ ?

[jaydub]

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Some individuals are paranoid.

Funds are safe up to 100K per account

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Historically FDIC has paid in full, the 100K has not to my knowledge been relevant.

J

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WTFBBQ ?

[/ QUOTE ]

Yeah, that makes sense. khdskfhsdhfjsakdfjas

Are you saying that there has been a case where the 100K(ish) FDIC limit became materially relevant?

J

[Fishhead24]

COUNTRYWIDE cutting employees today......ugh.

[Uglyowl]

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Yeah, that makes sense. khdskfhsdhfjsakdfjas

Are you saying that there has been a case where the 100K(ish) FDIC limit became materially relevant?

J

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YES!

A lifetime of saving evaporates with bank's collapse

Not the first and won't be the last. You really need to read up on FDIC/NCUA insurance. There are ways to structure your accounts so they are 100% safe and once you know it isn't that difficult.

[Learning]

I used to work at a Washington Mutual branch and my manager actually showed me the fine print which states that the FDIC has 99 years to recover the funds.

Scary.

[Thremp]

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Yeah, that makes sense. khdskfhsdhfjsakdfjas

Are you saying that there has been a case where the 100K(ish) FDIC limit became materially relevant?

J

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YES!

A lifetime of saving evaporates with bank's collapse

Not the first and won't be the last. You really need to read up on FDIC/NCUA insurance. There are ways to structure your accounts so they are 100% safe and once you know it isn't that difficult.

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LOL Do you wanna take wagers on either first or last?

Not to mention that case is still pending and that guy is gonna receive every cent in his account. He's just being Netellered for a little while.

[Uglyowl]

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It's not exactly 100k per account. If you have 4 savings accounts for $100K each at the same bank, you are only covered up to $100K. But you can be covered $100K in savings and $100K in an IRA.

-Tom

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Tom you can also have single accounts, joint accounts, beneficiary accounts, etc. A family of 4 can structure these nicely to get about $600K in insurance if I remember correctly.

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Not to mention that case is still pending and that guy is gonna receive every cent in his account. He's just being Netellered for a little while.

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Thremp, did you read the article? Generally 75% recovery on uninsured funds historically has been the norm, but sometimes it is much lower depending how bad the bank's balance sheet is.