I know a professional trader beginning to invest in hard assets. Real estate and gold. If you had a sizeable nest egg and are uncertain of the solvency of some of the financials (although perhaps remote if there is a bailout), you may want hard physical gold (not shares of gold companies nor gold futures). A version of money under the mattress but with appreciation potential in a crisis - and its fairly liquid.
I am 100% in cash and equivalents and will need to make changes. SIPC only covers $100k, CAPCO supplemental insurance taken out by fidelity has been put on credit watch (besides, they have no where near the amount needed to cover a melt down scenario).
I will start moving my money around to different institutions (Fidelity/Schwab, etc.) and will consider hard assets. maybe even a foreclosure.
CD's seems like a reasonable place for some of the cash in retirement accounts (I think a $210k fdic limit).