Reply #5: It depends on a lot of things. Right now? Probably not. However... [View All]

[Pale Blue Dot]

1. If you have less than $100,000 in the bank, you're probably OK for now. Unless...

2. Washington Mutual fails. A Washington Mutual failure would use up practically ALL of the FDIC's reserves and Congress would then have to step in and authorize more of our money for the FDIC. Which they would more than likely do, it's just a question of how long it would take.

3. Research is your friend. Go to this website: http://www.bankrate.com/brm/safesound/ss_home.asp. You can search for your bank by name or by state. If your bank has less than a three star rating, I would consider moving it to a higher rated bank.

Good luck.