barbarus
Recycles dryer sheets
- Joined
- Aug 1, 2007
- Messages
- 433
Does FDIC insurance cover a single account in toto up to $100,000 or could a depositor place $100,000 in principle into an FDIC protected instrument and have that principle and it's interest both protected?
I'm pretty sure it's the former situation. A depositor would get back a maximum of $100,000 and no more (per acct) if the issuing institution got a booboo.
Bankers? Financiers? Anyone with real world experience?
FDIC insurance is one of the few GOOD things gvmt does and recent events point to it's importance.
Too bad Al "Conundrum" Greenspan didn't allow the $100k limit to be increased.
I'm pretty sure it's the former situation. A depositor would get back a maximum of $100,000 and no more (per acct) if the issuing institution got a booboo.
Bankers? Financiers? Anyone with real world experience?
FDIC insurance is one of the few GOOD things gvmt does and recent events point to it's importance.
Too bad Al "Conundrum" Greenspan didn't allow the $100k limit to be increased.