Comments on: Trick to Getting FDIC Insured Over $100K

By: Joe

Joe — Tue, 03 Feb 2009 22:27:58 +0000

Bob, You are a very ignorant and angry individual. The sub-prime mortgage crisis is not Bush’s fault nor the Republicans fault. The idea that “Everyone deserves to own a home” (even those that can’t afford it) is not a Republican idea or ideal, it’s that of the Democrats/Liberals like yourself. That along with corporate greed and what should be considered outright illegal behavior on the part of CEOs has brought this mess upon us. Until this machine that is the US economy learns how to police itself this type of thing will happen again and again.

By: Peko

Peko — Wed, 14 Jan 2009 22:36:48 +0000

Hello everyone, I just opened a CD with GMAC bank, and right after I opened it, I check back with this website and see if the CD rate of GMAC is still on top 5, but can’t see GMAC in any rank anymore!!??? Why? What happened?

By: Jackie

Jackie — Tue, 06 Jan 2009 20:03:14 +0000

I had approx $140 in a CD. It was titled in my name with one grandson listed as beneficiary. I was so careless to allow that sum to remain in one account in one bank but I thought the titling would be safe. Be that as it may let me tell you all what happened. On the Friday when the bank closed I heard about it on the radio. I was scared spitless and immediately phoned the bank to get the complete story. I was told by a young man who worked at the bank and answered my call that I had nothing to worry about if the CD was titled in that way —that each name (mine plus my grandson’s) was insured up to $100K. He said just get a good weekend’s rest. He took my contact information and told me an agent from FDIC would phone me next week. The agent did call and then laid the terrible news at my feet. He stated FDIC insured only relationships. He said the relationship between me and my grandson was only one relationship and would be covered to $100K. He stated if I had listed another beneficiary as well then that relationship would be a different one and would then be insured to another $100K. So my loss would be $41K. He then stated FDIC declared a 50% dividend on IndyMac accounts which meant I would be given 50% of my uninsured amount. In the end, I did receive $120K and lost $20. He told me that this was the 4th largest bank in the US with many branches and that when and if any of its assets were sold, I would be among the first to receive my remaining savings.
I see bailouts all over the place to hugh institutions but I see absolutely NOTHING happening with the assets of IndyMac Federal. I doubt I will ever see any of my lost funds. I had taken out that CD only 3 weeks before the bank closed. What a shock. Sure taught this senior to be more aware and less trusting.

By: Reporte Credito

Reporte Credito — Sat, 20 Dec 2008 04:50:11 +0000

I think you can simply open an individual account and name different beneficiaries as long as they are close relatives, such as wife and children. For each of the beneficiaries, except yourself, the FDIC will grant coverage of up to 100k so if you include your wife, your son and your daughter (example) then your account is insured up to 300k and if your wife does the same thing then between account you can both hold together up to 600k which will be insured.

By: USBailOut.com

USBailOut.com — Wed, 26 Nov 2008 07:07:15 +0000

Good Info!

By: Mel

Mel — Fri, 07 Nov 2008 12:40:35 +0000

The American way: point the finger at someone other than yourself.
The drive behind this: greed
And it doesn’t stop there.
Higher salaries for less work.
Credit cards with run away credit limits.
News not delivered instead opinated.
And has anyone noticed the strong hold over the economy’s fate the oil companies have?
Never mind the handful of elites that run this country and ulitmately decide the fate of this country.
Greed has no bounderies.
So get a grip AMERICA! You asked for it, you got it!

By: Sam G

Sam G — Sun, 02 Nov 2008 09:19:40 +0000

It’s just best to have acccounts at multiple locations

By: Joel

Joel — Thu, 18 Sep 2008 05:17:28 +0000

this is really good information considering that I have about 500K in savings.

By: DonBob

DonBob — Thu, 18 Sep 2008 04:36:54 +0000

Kris.. to blame Clinton, who inherited a government in record debt and left it with a record surplus almost 8 years ago, is to say that Bush is truly incompetent if, in his 8 years of stewardship he was incapable of correcting the problems you believe were left to him by Clinton. Its just like you Bush backers to blame his incompetence on anyone but him. No matter how you try to sugar coat it, your man Bush has been a complete failure, complete and utter failure. Just suck it up and admit it. Unrelated but quick question..can anyone post a link to a picture of the plane that hit the pentagon? an acutal picture, there must be hundreds of cameras that monitor the pentagon 24/7.. I’m just looking for 1 picture of that plane, how difficult could that be? I mean, that building belongs to the taxpaying citizens of this country, right? it belongs to us, dosen’t it? One of the countrys most recognizable buildings, celebrated on postcards and in textbooks for decades, the building itself is hardly top secret. So I ask, what national security is at risk by letting us see that fatal impact? The truth is out there, I shutter to think how we will deal with it.

By: Kris

Kris — Tue, 16 Sep 2008 20:09:33 +0000

To all the ones blaminmg Bush for this it isn’t his falult. If clinton would have done his job and not try to get aroud all the big spending like he need to we wouldn’t be where we are today, Bush did his job and their sould not be a soul that blames him for where we are today. I say thank you President Bush for doing a wonderful job.

By: Dave

Dave — Tue, 16 Sep 2008 01:05:38 +0000

What took place over the last 8 years is called “Government Failure”, this meaning simply explains itself. Congress should have never approved the use of arm loans. Banks and congress got greedy and look what happened.

By: Dorothy

Dorothy — Mon, 15 Sep 2008 19:37:35 +0000

Bob, I feel sorry for you! You are a very ill and misguided person! Obviously a radical left winger! There is no hope for hateful people like you. Sorry.

By: Bill

Bill — Mon, 15 Sep 2008 19:27:39 +0000

In reference to Mike’s comment don’t even take the word of the bank rep. I was told I was insured but was not due to my daughter being a beneficiary not a card signer….make sure all sign on the card for each 100K in bank…or have it in an IRA account..

By: Michael

Michael — Sun, 14 Sep 2008 19:29:48 +0000

Lastly, to Docc siting “ignorance” while claiming that democrats have controlled the house & senate the last 4 years and to Leslie, who is less reminiscent of irony but also wrong…..factually, democrats won back a majority in congress November, 2006.

By: Michael

Michael — Sun, 14 Sep 2008 19:23:49 +0000

Almost forgot, Bob, you are indeed wrong about Bush. We brought it on, mission is accomplished, Brownie and W did a fine job with Katrina, torture is cool, habeas corpus is so yesterday, Valerie Plame wasn’t all that covert anyway, Alberto Gonzalez was the bomb, the Iraq war is a splendid plan with or with or without WMD or a connection to 9/11, it’s no big deal Bin Laden is still on the loose, national debt is good, helps us build credit with TRW, budget deficit, not so much, but hey, we all get our finances a little out of whack from time to time, devaluation and inflation is also good, makes us remember where we came from, builds character. So Bob, please stop being so anti-American. Put on a flag pin, same some prayers and rid yourself of the mythical concept of accountability. Accountability is so passe….

By: Michael

Michael — Sun, 14 Sep 2008 19:02:52 +0000

Wow, I must say I have been beyond humored by the dialog here. Basically every post was either incorrect or misleading or both, um, save the one with the FDIC link. You CAN be insured for well beyond 100K at the same bank. I don’t have time to educate here but do sit down in front of a bank rep for clarity rather than reading posts or the FDIC link which I agree is confusing. I WAS at Indymac, I DID have over 400K in CD’s and I did NOT lose a penny. One thing I will say is to NOT think in terms of 100K deposits when you set up accounts cuz especially with CD’s, if the interest compounds it will be over the 100K amount which will not be insured. I deposited 90K in each account so that accumulated interest would be insured at maturity.

By: Charlie

Charlie — Sat, 13 Sep 2008 06:11:17 +0000

Leslie in reference to your comment:
“Barrack Obama who would like to tax the rich more and give to the poor. Thank god for the rich. How many poor people do you see giving money to charity, donating money to hospitals or other philanthropic organizations, and how many poor people create jobs for others.”
It is greatly flawed. Do you know what it is like to be poor? OF COURSE poor people dont donate to charity it’s the furthest thing from their mind for OBVIOUS reasons. Would you choose to feed your family or donate?

I do appreciate your view of social responsibility accompanying wealth. Things would be much better if everyone shared that view.
But I think you are missing the far greater picture: Poor or rich, anyone can make the world a better place if they try. Unfortunately both can do the opposite as well.
The important thing is that someone with money earnetly tries to use it to make the world a better place. Not just to get a tax write off, improve their image in social circles, and to sleep better at night.

By: Bill

Bill — Wed, 03 Sep 2008 15:13:32 +0000

I was one who was not insured fully at IndyMac. I was wondering if anyone has the status of IndyMac now? The bank assets being sold? The percentage anyone can expect in the first quarter should be around Oct. 11? Any news would be appreciated…

By: Options Strategist

Options Strategist — Sat, 30 Aug 2008 06:31:51 +0000

Create 5 Nevada LLCs for $300 a piece, it takes one day.

Get 5 Taxpayer ID numbers from IRS ( not using your own social security number, do not be so dumb) there are services that charge $75 for each. Walk to your favorite “penny stock bank ” with highest yields on the national market place and stuff $100,000 in each LLCs. That’s $500,000 FDIC insured accounts which you now control. Perfectly legitimate, sound, bullet proof, protected from personal predators/creditors and snooping eyes.

That was easy…

By: Andreas

Andreas — Sun, 10 Aug 2008 09:57:32 +0000

There is a great FDIC insurance calculator at: http://www.fdic.gov/edie

And I also called their hotline with a bunch of questions. I was able to speak to a human within less than a minute. And contrary to the Citibank telephone banker, the FDIC person knew exactly what she was talking about. Now that’s government service!!