Is anyone else worried about a run on the banks?

[Stuart G]

23. No, absolutely not..All accounts insured up to $250,000. by FDIC..(Federal Deposit Insurance Corp)

...What does that mean? It means if the bank looses all its money for any reason, if your account is less than $250,000, the federal government will replace your loss....by law it must

...After the run on the banks in the 30s they passed this law....Gradually they have raised the amount that will be replaced. As far back as I can remember, in the 50s, it was $50,000...Now it is up to $250.000.

...The very last thing we need is a "run on the banks." And yes, banks have gone broke, and Yes, the FDIC has covered all losses up to that limit.


....There is no need to run to the bank, accounts are insured...Your money is covered (up to $250,000)