That money has to come from somewhere when a bank fails (taxpayers).

 

Also, don't keep more than $100k in a single bank account. If you really want that much cash just sitting there, open up a second account.

 

Which basically means the entire amount would be covered anyways. I did a little reseach, the anount was raised to $100,000 in 1980.

They aught to set the FDIC insured amount to $100K + an inflation adjustment based upon the CPI.

I was puzzling over this, Basically there is no personal limit on how much a person could have insured. One could, in theory, have millions and millions covered, as long as it was in separate institutions, or different account types at the same bank. So why force people to spread the money around? Is there a difference in covering 10 people for $10,000,000 or 1000 people for $10,000,000 (same amount)?

I worked at MidAmerica until right before the conversion to National City. I knew MAB was going to be purchased by National City a while before it took place, and meant to buy stock but never did. Was super pissed the day it was announced to us. Now, all of my former co-workers are genuinely worried. A few weeks ago when I dropped by my old Branch Manager told me it was hovering around $3.00 a share. Thats a SWIFT drop from what it was when I left to say the least. I work for MB Financial for now (any day and I'm outta that hole) and I know they've avoided this mess because they were smart with their rates before the s*** hit the fan. They lost out on business then, but they're sitting pretty now.