Are bank accounts really safe?

M

MiniDowTrader

I get the feeling that I should be at my local Susquehanna Bank branch this morning withdrawing a few grand in case things get really bad between now and Monday. Any thoughts?
 
Quote from MiniDowTrader:

I get the feeling that I should be at my local Susquehanna Bank branch this morning withdrawing a few grand in case things get really bad between now and Monday. Any thoughts?
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Up to FDIC insurance limits are safe. They'll print as much money as necessary if required...
 
A friend called me late last night to say that her Credit Union was seized. Forgot the name, Valley something...

The good news is, even after the seizure, she had enough time to get her money out.
 
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Any chance that banks don't open their doors Monday? What if the feds say shut 'em down until there's a bailout deal? I know, maybe a little panic induced thinking but a few grand in my home safe would sure feel a little better than not.
 
Quote from MiniDowTrader:

Any chance that banks don't open their doors Monday? What if the feds say shut 'em down until there's a bailout deal? I know, maybe a little panic induced thinking but a few grand in my home safe would sure feel a little better than not.
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If they shut down, it will be temporary and your money will not be at risk.
 
Quote from MiniDowTrader:

Any chance that banks don't open their doors Monday? What if the feds say shut 'em down until there's a bailout deal? I know, maybe a little panic induced thinking but a few grand in my home safe would sure feel a little better than not.
More...

i think they're capable of crashing the market, and shutting off ATMs until they get their way
 

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