Should I withdraw my moneys from IndyMac Bank? I have close to 30k at IndyMac Bank.?

Question

http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

Should I be concerned about my savings even though FDIC insures under 100k.

Please advise.

Answer 1

No, people pulling their money out is what made this whole thing worse in the first place.  As long as you are under the FDIC limit you'll be OK

Answer 2

no

Answer 3

Tough question to answer.  30 grand is a lot.  IF that is your whole life's savings, I would diversify and not keep it all at one financial institution.

You might want to think about moving some of it into a safe currency such as gold (yes, gold is being used as currency) in a place like GoldMoney.com - more info on their site - no I don't work for them, but I've used them.  

I think Americans really need to start studying their financial business system to find out which banks might be the most reliable.  I really wouldn't keep all my money at the "First and Third Local Savings" or whatever Joe-Shmo local bank there is.  

I would also start diversifying into some other world currencies.  If the US dollar collapses (some think it could happen this summer), you'll still have something.  I'm not saying this to be all "the sky is falling!" - I'm just trying to help on the basis of my own understanding.  And I've been reading about this situation for the past five years now.

MoneyEnergy

http://www.getmoneyenergy.com

Answer 4

Nope, don't worry about it. Your money is safe. Besides do you really want to stand in those long lines.  LOL