21 ways to tell that your bank is about to fail
Posted
Aug 09 2008, 08:02 PM
by
Karen Datko
Rating:
A few banks have failed in this rough economy, and some others may follow suit. So how can you tell if your bank is among them?
Ron at The Wisdom Journal provides "21 sure signs your bank is about to fail." Here are two we really liked: "When you tell them you'd like to open a CD, they hand you a complimentary copy of Barry Manilow's "Greatest Hits" still wrapped in cellophane," and "The drive-through window now allows deposits and serves burgers and fries."
Folks, if you take any of Ron's post seriously, it is time to sign up for a personal-finance class. But, you're right: This is a serious topic. After IndyMac Bank failed, MSN Money's Michael Brush reported that the Federal Deposit Insurance Corp., which insures bank deposits, has a list of 90 banks it thinks might be in trouble, out of the more than 9,000 in the U.S.
You're fine if the total of all of your deposits at the bank doesn't exceed $100,000. The FDIC has got your back for that amount. A blog post at Consumer Reports explains other government safeguards in place to protect your savings.
Now back to Ron's wisdom. Among our other favorite at his post:
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"You're charged a $12 fee to make a deposit, a $9 fee to open their door, and a $27 fee to breath their oxygen for three minutes."
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"The security guard carries a gun with a little orange tip on the barrel."
