Thanks for the heads up Ryan

 

God people are so scared and paranoid these days..give it a freaking rest.

 

know what happened last time people started freakin out and pullin their money out ... the depression. ur shits insured, relax

 

Yup so I figure as long as I'm with one and I needed something later I'll be cool.

 

Really?

 

several years ago, CDars was formed mainly as a way for local municipalities to put large sums of $$ in one bank that was then distributed into different banks in the sytem in amounts less than 100k, so that it would still be insured by the FDIC but nulified the trouble of opening multiple accounts at multiple banks & then shifting the $$ aroung to keep each account under the 100k limit....it has since become a viable tool for individuals as well & in the sytem, you have coverage of up to 50 million


you don't hear much about it, cause it is predominately smaller local banks that are participating members because it allows tham to be more competive....hardly any of the larger investment banks like wamu, wachovia, wells fargo or such are participating members. but from what i've read on it, you can get comprable rates & a more personalized level of service since you are dealing w/ a smaller bank

 

I've recently switched from Wachovia to WaMu. It's been about 6 weeks and I still don't have a PIN for my bank card yet

 

There is no guarantee of that, but the odds a bank of wamu's size defaulting on somebody with millions in the bank would be astronomical. If anything, another bank will buyout wamu and continue to hold the deposits for them.

 

im not worried about it. if i had > 100k i'd take it down to about 90k :0

 

Banks pass their profits along to their share holders, not board members. That is why securities in the industry have slow growth and solid dividends.