The coming bank failures

There will be numerically less failures than during the S&L crisis. But banks are much larger now.  So the damage may well be worse. So, how do you protect yourself? Bank with a huge institution like BofA assuming it is too large to be allowed to fail, buy gold and guns, do something else?

2 Responses to The coming bank failures

  1. Sue Fri, May 30, 2008 at 11:09 pm #

    Make sure that all of your deposits with the bank(s) are FDIC-insured. Do *not* buy uninsured bank products. Do *not* buy bank stocks or bonds.

  2. DJ Sat, May 31, 2008 at 8:02 am #

    Keep some cash at home. FDIC will get you your bank balances back– eventually. In the mean time, make sure you’ve got enough cash to live on in an emergency.