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I checked the FDIC website and not everything Ms. Goldwasser said was 100% correct. (For example, contrary to what she said on the air, accounts will continue to earn interest.) Anyone with $$ at Indymac should go to the FDIC site for accurate information.

IRA Accounts are insured up to $250.000

FDIC - brilliant

Kiplinger's - they are trying. good for them.

Not every bank has FDIC coverage and if it does it is 100k per account, some folks at indymac bank have over 100k in an account and as of now are getting the 100k but as stated earlier only 50cents on the dollar. Key is don't have an account over 100k.

FDIC 800# is a bit tough to get through. Their website appears organized but it is tough to find their "troubled bank list", which I still have not located.

It's a good bet that any banking institution that is deeply invested in mortgages and that fiasco is not in great standing; such as Washington Mutual who's stock has plummeted %30.

i hope there are enough life vests on board...

Brian & fellow listeners,

Everything you ever wanted to know about banking and consumer finance is at:

http://www.bankrate.com/

Including a link to find out the solvency of your bank!
Just use thier "Safe & Sound" ratings:

http://www.bankrate.com/brm/safesound/ss_home.asp

There is lots of info on the FDIC, as well.

I am not connected in any way to Bankrate.com other than as a consumer.

Enjoy,

Jim

Why hasn't this 100K cap been raised in over 20 years? For retirement funds, this isn't a significant amount

Oh, the hypocrisy of the Republican George W. Bush, reassuring people with the New Deal program FDIC! I wish there were some smart Democrats who would remind/inform Americans that this is a LIBERAL program.

Chase hase acounts that are not FDIC on the JP Morgen side of the bank

What a relief.

Sad that other folks relying on other taxpayer handouts or support -- welfare, food stamps, housing, afterschool programs, childcare, etc. do not get this sense of relief and assurance from the Feds.

Sorry, had to point out the irony.

FDIC Info on Joint Accounts:
http://www.fdic.gov/deposit/deposits/insured/ownership3.html

I think this panic has more to do with a sense of entitlement than actual, life-threatening fear. Cutting in line? Behaving rudely? I imagine this would be the same reaction if that indymac branch were on, say, the Upper West Side. The fact is that anyone with 100k in the bank is doing just fine and won't go hungry. If you were too lazy/short-sighted to diversify your funds early on, you deserve to take a loss. These rules have been available since the establishment of the FDIC.

What happens to your loans when a bank fails? Do you still have to pay it back and who do you pay it back to?

Hi Brian, we just sold a house for a million dollars and we have the money in a savings account temporarily while we see what to do with it. Is this money safe in a bank such as Chase? What does your guest suggest in such a case?

THIS IS CONFUSING!!! If the total amount of money in one bank for a married couple is under $200K and each account is held jointly, is it insured up to $100K or $200K????

FDCI insurance is designed to assist in isolated bank failures. FDIC will be of little help in a systemic banking failure. It was pointed out that 25% of FDIC's reserves are being allocated to Indymac alone.

1. SIPC only insures assets that are held in a brokerage acccount. If you have a regular mutual fund account directly, it is not covered by SIPC.

2. Money market funds haven't lost a cent, but that is only because the larger firms who sponsor them have bailed them out of bad subprime investments this year. You should keep money market fund investments in larger institutions.

3. Assets of a mutual fund are not assets of the management company. If Fidelity or Vanguard were to fail, which is well nigh impossible, as they are hugely profitable, they would not have any claim to the assets of their mutual funds other than their own investments in them.

4. Fidelity and Vanguard, etc., offer to their customers insured bank certificates of deposit. So you can have a CD held in your Fidelity account and it will be FDIC insured.

Does the 100K limit include only ONE account, or ALL accounts in the same institution with the exact same title?

Is the $100,000 insurance on total funds in bank products in one bank per account holder or $100,000 per account? In other words... $100,000 in savings, $100,000 in checking, etc or $100,000 total regardless of number of bank products?

My understanding is that many of the people who are pulling out their money are living paycheck to paycheckand have balances well below $100K. Most understand that they are insured. The issue is how long will it take them to get their money when they are living on a shoe string.

I have a SEP IRA at Chase, and at the bottom of the summary report, it says 'not insured by FDIC'.

Is there any other option for individual retirement accounts that would be FDIC insured?

Who pays FDIC premiums and will they be increasing now? Will that trickle down to us regular folk? (That's the way "trickle down economics" always seems to work;)

are joint accounts insured for 200,000 ?

What about TIAA-CREF retirement funds?

When do you get the money you have in the failed bank? How long do individuals have to survive without access to their money?

la jitters may from the reliability of the "good faith and credit" of the US...

...if the us were a company, given its known future strategies, its spending and its savings and income and debt load -- what would its credit rating be?

The secret is to keep less than $100k in an account so that interest won't put you over $100k, put $90k in each bank, if you have $500k, put $90k in 6 different banks. Keep a list of your accounts for yourself and relatives.

Don't put all your eggs in one basket.

... and what if you have more than $100K in the bank? I have an inheritance of *much more* in trust at Citibank. What happens to my money if they go under? Would my financial adviser even tell me if my trust wasn't secure with Citi?

The problem is that many depositors have their money in non-FDIC insured accounts through their banks, things like stock funds and money markets.

Hi,

Do you have information about non-FDIC insured banks/credit unions? For instance, my credit union is insured by American Share Insurance.

Thanks.

How about 401ks and IRAs? I understand that they are investments so they can lose values, but would I recover whatever it's worth if, say, Vanguard goes bust?

Also, it's backed by the full faith and credit of the all might (ahem) US dollar...

The man with a 20% approval rating is an idiot always was always will be and yet the media give him time to blather on like the fool he is. He's an insult to everyone's intelligence! And it's the voters' fault.

But what if you have more than 100K in one bank? What then? I understand 10,000 depositors are in this situation. How do they get their money back.

of course people's money is insured however those people who have more than $100,000 get .50 on the dollar.

So this is significant.