Who's at risk when banks fail?
Small businesses, apparently. I happened to be reading a summary of the National Small Business Association's Mid-Year Economic report and came across this:
Included in the report, 68 percent of small-business owners report that FDIC insurance is not adequate enough to insure their business accounts, and nearly two-thirds have already or are considering taking action such as spreading deposits across multiple institutions to reduce their financial risk.
Probably a good time to go ahead and do that.
Barbara!
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1
justin, if it's a matter of spreading deposits around, what's the worry?
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2
Steve, who the heck wants 10 - 15 different bank accounts?
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3
They should raise the limit to $250k. It will show real confidence in the banks. And it will eliminate unjustifiable advanced accounting in dealing with too many banks.
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4
rrsafety, i don't mind having 100 - 150 accounts, as long as i can minimize my share in subsidizing the absolutely immoral machine we have.
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5
rrsafety, i don't mind having 100 - 150 accounts, as long as i can minimize my share in subsidizing the absolutely immoral machine we have.
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6
curious (but not observant) steve,
This was posted by Barbara!, not Justin.Malcolm!
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7
visually observant malcolm,
thanks for that important piece of "fact".
now, let me go back to enjoying the once-in-a-lifetime show unfolding, ok?
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