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242 comments on DrumBeat: June 29, 2008

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mcgowanmc on June 29, 2008 - 9:41am Permalink | Subthread | Parent | Comments top

Per page 2 of Gail's Reuter's article:

"They (FDIC) also seek to clarify how some deposits swept into a different investment product would be treated."

And they're not alone.

Level III Assets? Marked to Fantasy products.

When we find out the price, the price will be zero.

$692 Trillion (last count from the Fed) turned into a smoking crater.

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Gail the Actuary on June 29, 2008 - 12:10pm Permalink | Subthread | Parent | Comments top

This is a link to the FDIC Final Rule. It is basically about not giving depositors access to more than their $100,000 of FDIC insurance coverage, once the FDIC bankruptcy process takes over. It seems to me that this could have a very adverse effect on big companies, trying to make their payrolls.

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Bitteroldcoot on June 29, 2008 - 1:24pm Permalink | Subthread | Parent | Comments top

If you want to avoid getting your money caught in the whole FDIC whirlwind. You can opt out (for the most part) by opening a Treasury Direct account.
http://www.treasurydirect.gov/indiv/indiv.htm

It's like opening a savings account with the US treasury. It seems to be the safest thing to do, this side of stuffing money in your mattress.

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SlicerDicer on June 29, 2008 - 3:06pm Permalink | Subthread | Parent | Comments top

This is assuming you trust the Treasury..

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242 comments on DrumBeat: June 29, 2008

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