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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (25765)	7/12/2008 10:28:33 PM
From: puborectalis	Respond to of 149317

newsweek.com less troops?

To: sylvester80 who wrote (25765)	7/13/2008 3:33:11 AM
From: tejek	Respond to of 149317

It may fail but no FDIC bank should ever fail because of a run on it (like what ended up happening to IndyMac). These are FDIC insured institutions. Nobody is going to lose a red cent (as long as you don't have more than the insurance (usually up to 200K for a married couple. So maybe the bank will fail but that's not a reason to pull your money out of it as all the money is guaranteed by the FDIC. All true but people became afraid, and when people are afraid, they don't listen to reason even if its true. In any case, IndyMac failed because of those fears. The bank also was having a very bad time trying to raise capital, had huge losses in its latest quarter, and had its rating dropped to 'junk' by Fitch. In other words, it was a disaster waiting to happen.