Should I be worried about my bank failing?

Question

after what happened in California, is there any reason to worry?

Answer 1

Yeah, I don't like parrots...

"Don't you just hate it when people like Katherine W parrot YOUR answers"?

Answer 2

If you're talkin' about IndyMac, the yes, you should be concerned. However, your account, is with say, WM, WFC, or BAC, your investment is covered by the FDIC up to $100K. But, if your bank goes bust your money could be tied up for a brief period. The questions you should be asking are:

Do I have more than 100K in any one bank?

And..

How strong is my bank? If you're with WaMu (WM), your bank is in trouble.

Don't you just hate it when people like Katherine W parrot YOUR answers? I covered FDIC implications 2 days ago..

Answer 3

Well, its not normal to not worry but it is a common problem with everyone, or atleast nearly everyone.

Just get some help x

Sometimes taking out a loan is good but sometimes it makes the situation worse x

Answer 4

You should only worry if you have more than $100,000 in  one bank.  Otherwise, you're covered.