WaMu next?

[mawilson 2,133]

the big dog is back and ready to bark..welcome back old friend..dean

Good to see you too, Dean!

[lucyrich 20]

I don't think anyone's going to save WaMu, or at least not their shareholders. Their stock will follow Fannie and Freddie down to zero.

There goes my millionare life, u said they just insured up to 100K right?

$100k per account.

If you have $300k, you need 3 accounts.

WRONG. It's 100K per depositor in a bank. If you have 100K in your savings account, and 100K in your checking account, and 100K in a CD, you've got a total of 300K in the bank, and only 100K of that is insured. Likewise if you have three separate checking accounts each with 100K.

If you have some joint accounts and some individually held accounts, there are ways to get the entire sum covered, if you're willing to split the money up with the other person on the joint account. Also, some IRA accounts have a higher limit.

If you put 100K in one bank, and 100K in a completely separate bank, then both are separately insured for 100K, so all your money is insured. That is, until the bank holding your first account is bought by the bank holding your second account, and they then become two accounts at the same bank...

Suze Orman's article, linked above, explains it in plain language

http://www.cnbc.com/id/25720504/

The FDIC also explains it, perhaps not in quite so plain language, but still clear enough

http://www.fdic.gov/deposit/Deposits/insured/basics.html

[mawilson 2,133]

I don't think anyone's going to save WaMu, or at least not their shareholders. Their stock will follow Fannie and Freddie down to zero.

There goes my millionare life, u said they just insured up to 100K right?

$100k per account.

If you have $300k, you need 3 accounts.

WRONG. It's 100K per depositor in a bank. If you have 100K in your savings account, and 100K in your checking account, and 100K in a CD, you've got a total of 300K in the bank, and only 100K of that is insured. Likewise if you have three separate checking accounts each with 100K.

Right, that's what I meant. 3 accounts in 3 different banks, not 3 accounts in one bank.

That's for clarifying that.

[NYGirl 0]

I don't think anyone's going to save WaMu, or at least not their shareholders. Their stock will follow Fannie and Freddie down to zero.

There goes my millionare life, u said they just insured up to 100K right?

$100k per account.

If you have $300k, you need 3 accounts.

WRONG. It's 100K per depositor in a bank. If you have 100K in your savings account, and 100K in your checking account, and 100K in a CD, you've got a total of 300K in the bank, and only 100K of that is insured. Likewise if you have three separate checking accounts each with 100K.

If you have some joint accounts and some individually held accounts, there are ways to get the entire sum covered, if you're willing to split the money up with the other person on the joint account. Also, some IRA accounts have a higher limit.

If you put 100K in one bank, and 100K in a completely separate bank, then both are separately insured for 100K, so all your money is insured. That is, until the bank holding your first account is bought by the bank holding your second account, and they then become two accounts at the same bank...

Suze Orman's article, linked above, explains it in plain language

http://www.cnbc.com/id/25720504/

The FDIC also explains it, perhaps not in quite so plain language, but still clear enough

http://www.fdic.gov/deposit/Deposits/insured/basics.html

It's per person.

If you have 200K in your savings account for example and it has both, yours and your SO name on it, the full amount is insured.

[HAL 9000 96]

I don't think anyone's going to save WaMu, or at least not their shareholders. Their stock will follow Fannie and Freddie down to zero.

There goes my millionare life, u said they just insured up to 100K right?

$100k per account.

If you have $300k, you need 3 accounts.

WRONG. It's 100K per depositor in a bank. If you have 100K in your savings account, and 100K in your checking account, and 100K in a CD, you've got a total of 300K in the bank, and only 100K of that is insured. Likewise if you have three separate checking accounts each with 100K.

Right, that's what I meant. 3 accounts in 3 different banks, not 3 accounts in one bank.

That's for clarifying that.

We're you been dude?