There will be numerically less failures than during the S&L crisis. But banks are much larger now.Ã‚Â 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?
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.
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.