Tuesday, October 07, 2008
Is Your Bank Solvent?
In the old economy (i.e., that existing prior to a couple of months ago), inquiries as to a bank's financial standing were regarded as needless and paranoid. In the new reality residents of the US now find themselves, where one's cash deposits reside has assumed critical importance. If you have questions about your bank's health, you may find this FDIC site useful. Another new feature of the financial debacle, of course, is that you are entirely on your own, government having proven beyond all doubt that it is entirely incompetent to even identify the problems, much less issue solutions that don't make the situation worse.