Don’t Panic! Most Banks are Safe. Probably.
July 15, 2008 by Miranda Marquit
Filed under Finance
Yesterday, what with the news that the weekend had yielded plans to keep Fannie Mae and Freddie Mac from complete insolvency and that IndyMac was open again — run by the FDIC — after the government shut it down, people are starting to wonder how safe their money is in a bank.
The good news is that the FDIC insures up to $100,000 in an account at each bank. So consider avoiding putting all of your eggs in one basket. The other good news is that analysts claim that most banks are probably will not fail.
Did the video make you feel any better? Are you worried about your bank?
