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Credit Crisis Safety Plays: How to Make Sure That Your Bank Deposits are FDIC Insured
With evidence mounting by the day that the banking industry may be in deeper than it admits, many investors are wondering what the Federal Deposit Insurance Corp. (FDIC) actually does and how it will protect them.
This question becomes even more crucial now that, under the proposed banking-sector rescue legislation that was passed by the Senate Wednesday night, the individual cap on the level of government-guaranteed deposits would be raised from the current $100,000 to the new level of $250,000.
Let’s take a look at what the FDIC is and does, and outline how it’s supposed to function. There are also two steps folks…
3Oct2008 | Money Morning | Comments Off | Continued
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