Would you withdraw your money?

[zippy-kat]

No, I would not and I will not.

Don't forget that many places are insured not only by FDIC but also SIPC. FINRA has a good education material, for those interested.

[Laura's Babies]

What worries me is the 401K's... with the stock market and financial institutions so shakey....

I think right now my savings are safer than my 401K is...

[K9karen]

Nope. Of course I don't have that much but I still have accounts split. Your money is insured as everyone said, it's safer and you get some return on it.

My worry is my 401k's which I kept even after I stopped working, cause I surprisingly made great choices at the time and was doing OK. Now every statement has a loss. Yuk.

[smokey the elder]

Leave it be. They focus on the banks that are failing. I heard a stat that 98% of banks are solvent. A more useful metric would be, what percent of people's deposits are in solvent banks? I would hazard a guess that it's a pretty high number.

Banks, and other investing bodies who over-expose themselves to risk will run into problems. This has occurred as long as one person asked someone else to hold their money for them, and won't stop happening, I don't think.

[Pam]

I agree with the others. Leave it be. Should you have more than $100,000 you might want to spread it out among other banks just to be safe.

[lizbud]

Leave it be. They focus on the banks that are failing. I heard a stat that 98% of banks are solvent. A more useful metric would be, what percent of people's deposits are in solvent banks? I would hazard a guess that it's a pretty high number.

Banks, and other investing bodies who over-expose themselves to risk will run into problems. This has occurred as long as one person asked someone else to hold their money for them, and won't stop happening, I don't think.

I agree. If I had any money , I wouldn't change anything just yet. Let the market settle for awhile.

[Cataholic]

If anyone still has concerns, I have established a BOC (Bank of Cats) that can safely and securely hold all funds. PM me for the address to which to send the funds. Cash is the preferred method.

Signed,
Montana
AKA, Head Teller

[Killearn Kitties]

This sounds a very attractive offer, Montana. At what rate would interest be applied to my account? Will it be paid in kibble? Catnip? Toy mousies?

[Cataholic]

The BOC is a full service bank. We offer competitive rates on CDs, 1 can of wet food + prime. Our savings accounts are currently earning 1.5 mousies a day, and our checking accounts come with totally free checking, as long as the checks are written to a recognized pet charity. Otherwise, each check carries with it a small debit.

Perhaps the only drawback to our bank is the "relaxed" hours. We are open M-F, from 1130a-130p, unless the sun is directly overhead. In that case, we are too busy catching the rays on the lovely long counters. But, we do offer drive through hours from dusk-dawn.

Also, for every account established with us, we are offering a free light pointer! Supplies are limited!

Montana