The New York Times says, "Troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months". Read this article and comment on how safe do you think your money is.
20 comments:
It's bad that many banks are currently in danger, but at least they are in much less danger than they were in the late 1980s and early 1990s. I feel that my money is relatively safe because I have had a bank account all of my life and nothing bad has happened yet. Hopefully no more banks fail.
I feel safe with my money. The FDIC insures $100,000 per person, so if something did happen, it would not be a problem. Plus I live a block from my bank, so I could go get my money if something bad was gonna happen.
But that is kinda scary that banks could collapse like that. They are safer than the 1980's, but that is hard to believe that 150 banks could go.
I feel right now that my money is pretty safe because like caroline said nothing bad as really happened to it so far. However it is a little unnerving to think that some banks are in America are in real trouble but you really just don't know what will happen next.
I feel pretty safe with my money because the bank that we have our money in is insured by FDIC. It's scary that banks are collapsing and that a lot of banks are in a lot of trouble. Hopefully no more banks fail.
Although banks are closing i do believe my money is safe. The economy is in a rut at the moment. Like the article said home prices are at a low at the moment which makes it very hard for banks to give loans. It cant last forever though.
Its scary to me that the small and midsize banks are indanger it reminds of the great depression, how they started out with some of the same issues that are happening today.
On the brightside it is not as bad as in the 1980's and 1990's. I just hope that it stays that way and dosen't end up getting worse.
While on one hand it is scary that so many banks are failing, it is reassuring that they danger is not as significant as it was in the 80s and 90s. While we tend to look at the negatives, there can always be at least one positive. I never really worry about my money. Nothing has happened to it thus far, so why worry now? Well, maybe if a robber was entering the bank my money is located in, I might break a sweat. But for now, I'll feel confident with the bank's protection of my money.
Banks in danger? Now this new, but I feel completely safe with my money. It's sad that the banks are going down in the article they said 150 out of 7,500 banks nationwide may fail in the next 12-18 months is crazy. Hopefully this is not gonna happen.
This is the first I've heard about banks being in trouble. To be honest, it worries me, because I have a bank account and now I'm not so sure that my money is actually safe. However, the fact that the FDIC has billions saved up for the worst case scenario lets me be more at ease.
It's troubling to know that at some small and midsize banks that about 150 out of 7,500 nationwide banks could fail in the next 12-18 months. Although, I am eased by knowing that the bank crisis was much worse in the 80s and 90s. Hopefully we will not see the day when many more banks will fail.
Only eight banks have failed in 2008, Compared to the hundreds that failed back in the 80's. Since then, the FDIC has made a $100,000 insurance policy stating that if your money is lost due to bank failure, you will receive the amount lost in full up to the amount insured. This assures me that my money is safe and I have no worries as to having to move my money else where.
Not knowing what's going to happen next is the worst part of the whole thing. I do feel fine about having money in a bank though, at least until something drastic happens. Then we'll have to be slightly more worried.
The bank failure doesn't really worry me. It's a pretty isolated case and 150 banks isn't really that many, and its probably an overstatement anyway. The FDIC insures that none of us are ever going to notice a local collapse anyway so there's nothing to worry about.
Hopefully my money is safe. I think it is for now, I actually just recently switched banks and got a new account. But nothing bad has happened to it yet so I'm crossing my fingers that my bank will not fail. Sadly 150 banks did fail but hopefully that wont happen again for a long time, or never would be nice. This article is pretty scary to think about though.
Well I can't say that I have more than 100,000 in the bank so I feel pretty good. My aunt works at a bank and is high up in the office and we were discussing this topic a couple months ago and she told me that eventually the way it is going the government will be taking control of all the banks in the near future. Hopefully it doesn't get to this point.
I feel protected with my money in the bank. I've had my savings account since I was ten. They are in very less danger than there were years ago. But it is scary because it might just happen to were a bank falls apart and the people loose thier money. But is states that the FDIC would provide $100,000 per person. So it's not that bad unless you had a lot of money in the bank.
To me this is frightening because honestly what other ways are there to keep your money safe? You cannot keep large sums of money in your house thats nuts. Although nothing has happened so far i feel my money is fairly safe, but nothing is impossible.
It worries me that banks are in danger. Though my money is safe because of FDIC, i still think that i should be aware of this issue. Because even though only few banks are failing, it's still saying that economy is not getting better.
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