Denninger: Warning Related To The FDIC

08-04-2009 • Market-ticker.denninger.net

It is thus my position that even if you are well under FDIC limits you must move money around now so you have multiple bank accounts and thus if your withdrawals and access to your funds are "rationed" in a similar fashion you will be able to access what you need to pay your electric bill, put gas in your car and buy your food. Remember, getting your money back doesn't mean getting it all right now, and government agencies can be very inflexible when what they have decided to do conflicts with what you want. Since the government is not going to do the right thing with regard to these financial institutions and their alleged "assets", say much less crooked accounting and disclosures - a fact that now, two years into this mess, should be the inescapable conclusion reached by anyone with a brain in their head - you need to protect yourself.