Does anyone know if JP morgan (Chase Bank) Will be Safe & Alright if The Banks Start Going Under?

Question

I'm hearing the rumors & the talk from the media, so will my money market savings account at Chase be safe?

I’m not sure if we can keep handing out bail outs at such a increasing rate.

What should I do?

Does anyone have a list or any information of what Banks might be in trouble?

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Answer 1

Your money should be safe in JPMorgan.  They would not have bought out (or handed over on a platter) Bear Sterns, if they were struggling.  One threshold to keep in mind is the $100,000 that the FDIC will insure.  I am over simplifying this but if you have over $100,000 in an account, the Federal government will not insure 100% of your money.  If you are under the $100,000, then you really have little to worry about.

Answer 2

i read that is it the smaller local banks that might be in trouble, not the larger national banks. Good Luck.