Picking up Nickels

Tuesday, July 15, 2008

IndyMac on the brain

Friday's IndyMac takeover by the FDIC has led to a surge in interest for my account of an FDIC takeover of my Bank of New England accounts in the early 1990's, which turned out to be a non-event for me.

The lesson here is that IndyMac customers with deposits that fall within FDIC insurance limits shouldn't worry about losing a single penny. If you didn't have the foresight to avoid deposits exceeding FDIC limits, then unfortunately your situation is a bit more complicated.


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