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Be alert for some banks that offer high rates. Washington Mutual last week in a desperate need to raise money offered 5 percent CDs for only one year. Guess what they are looking for a buyer today.
Be alert for some banks that offer high rates. Washington Mutual last week in a desperate need to raise money offered 5 percent CDs for only one year. Guess what they are looking for a buyer today.
that is debatable! if the institution is FDIC insured and your deposit are under 100k, it is practically safe. FDIC do have enough funds at the moment - unless a few BIG banks fail.
You have to wonder if the collapses continue if FDIC will be in tact....
yup, but if Fed is flexible enough to help AIG and BS, why would it not help FDIC? Fed has more of a moral responsibility to back FDIC before it backs any of these public entities that are purely profit driven and failing due to their greed.
yup, but if Fed is flexible enough to help AIG and BS, why would it not help FDIC? Fed has more of a moral responsibility to back FDIC before it backs any of these public entities that are purely profit driven and failing due to their greed.
FDIC is backed by the full faith and credit of the United States Govt, so as long as you keep accounts within insured limits I would not worry too much. I think it's still best to spread things around though, and personally I'd stay away from WAMU; I really would not want to find out first hand how to go about making an FDIC claim.
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