On Mar 31, 11:06 pm, "Mark Freeland" <BnetOne...@[EMAIL PROTECTED]
> wrote:
> "anoop" <ghanw...@[EMAIL PROTECTED]
> wrote in message
>
> news:f87bb2d0-1b01-4051-89d0-293378be190a@[EMAIL PROTECTED]
>
> > With the Bear Stearns fiasco, no bank seems
> > secure. So...
>
> > What can one do in this
> > scenario? Just stick with treasury funds?
>
The crisis may in fact be over at this point. Not much discussion has
gone on in this forum about the crisis as it was unfolding, and very
little appeared in the widely-distributed media PRIOR to the crisis.
(A number of non-media papers and analyses were available prior to the
crisis (one link to an article written by an official of Fannie Mae
was posted in this forum way back in early 2005), but you had to look
and dig to find them.)
> Given the level of world-wide faith in the dollar (as suggested by
> $1.58/euro), this is a better alternative?
>
> If you have faith in the federal government, and you've got several
hundred
> thousand in cash just lying around (a problem we should all have), you
can
> split your stash of cash into accounts at different banks, each with a
$100K
> insurance limit. Note that retirement accounts are protected to $250K.
>
> Mark Freeland
Mark, I believe a preceding discussion regarding CD's and the FDIC
arrived at the determination that CD's held at ONE bank can and should
and usually are CD's from OTHER banks, thereby gaining FDIC insurance
for each CD - even if the total at one's preferred bank exceeds the
100k limit. I.e. it is not necessary to open separate accounts for
CD's. One can also purchase Treasury bills through one's bank.
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