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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: bruwin who wrote (127354)	4/21/2011 11:58:54 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Depositors only lose money if they don't move deposits to different banks every time they hit the FDIC level (or SIPC or FSLIC, back in the day). I've had lots of banks and S&Ls (and brokers) go belly up on me and have never lost a nickle. I have lost high CD rates that were paid at the bankrupt bank but not at the new one. But I knew the danger of that going in. If too many banks bothers someone, they can bank at the Fed in T-Bills, notes and bonds. I did get lucky when Walston and Co. went Bali Hai (thank you, Ross Perot). They didn't have insurance back in those days, but Mother Merril bailed me out. This crisis, Merrill had to be bailed out.