Financially Secure Banks

toledo
Wed, 16 Jul 2008 22:48:49 +0000

ucsducladad, some banks are in dire straits right now. They’re trying to make up for it by offering very attractive rates. Is it right for people to transfer money to these banks, believing that the FDIC will bail them out if the bank goes under?

I just asked my husband how his company’s new bank is working out. He said, “Oh, it was too difficult to switch banks so we just took out a larger loan amount with the current bank so that if they go under, we’ll owe them more than they owe us.”