For over nine months I've been telling anyone who will listen to diversify account holdings and double check that all deposits are well below the $100k FDIC limit. It amazes me that with all the turmoil the economy is experiencing, people still got caught off-guard at IndyMac and will lose money that exceeded that limit.
Again, I repeat...DIVERSIFY and VERIFY. There will be a long list of failed banks over the next couple of years. It can happen quickly and once it does, you will be at the mercy of a continually weakening FDIC. As the losses mount, the FDIC will be strained and you may even lose quick access to funds below the $100k mark. That is why I say diversify. Also, keep cash at hand. A months worth of expenses minimum.
You've been warned...again.
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