IndyMac Taken Over - Your Money’s Safe
http://money.cnn.com/2008/07/13/news/economy/indymac_fdicstatement/index.htm?cnn=yes
The FDIC says that despite their takeover of IndyMac bank, customers’ money is safe as it ever was. That’s the rosy picture, anyway. Traditional accounts are federally insured up to $100,000 while some other types of accounts, mutual funds, annuities and the like, are possibly not insured at all. In my opinion, it will take a little time before we know for sure just how this takeover affects the finanical world. We will not see all the ripples for some time. I’m certainly hoping that one of the rippes is that my own personal second mortgage is forgotten, uh, I mean forgiven, but somehow I tend to doubt that’s about to happen.
In any case, the article is well worth reading…especially if you bank with IndyMac.
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