I will be the first to admit that I spent my years getting educated concentrating on things other than Finances and the Stock Exchange - namely Agriculture and Chiropractic - however, along the way the way I did pick up a few gems of wisdom.
This current financial faux pax is about as serious a jolt as has happened to most of you in your lives, and I understand your consternation. Depending on your Financial stability and the particular "nut" that you have to crack in order to keep your head above water, one can attempt to give advice and soothing words to assuage your fears, dismay, and apprehension - but - words are easy to say when we are not walking in YOUR shoes.
I have to agree, at least to a great extent, with Herefordsire (though not completely :???: ), and bandit80 with their interpretation of the "alarm sounds" which went off this week! BUT - bandit80 has made what I think is as good advice as anyone on this Forum and this subject.
Keep calm, let the wheels grind inexorably along as they will, and by so doing, prevent a run on every bank in the country - which would throw a monkey wrench into the entire money system, and then we would really be in big doo-doo!
bandit80 is correct - the FDIC has never failed to do the job it is designed to do, which is to prevent the FEAR and LOSS of bank accounts in such situations such at this. That is exactly what it was designed to do - PROTECT YOUR ASSETS - to a specified amount. And you may have more than one account in the same bank up to $100,000 under your spouse' name and/or your kids names.
Back off, calm down, think quietly and don't make your personal situation worse than it is. We may not agree that the Government is - AGAIN - involving themselves in our business, but by ourselves we can't do much about it right now. With the Senate and the House of Representatives LOADED with selfish and arrogant "do-absolutely-nothings" we can't expect anything else. But by turning the Congress completely up-side down this November, we might send a message that we are fed up with the Liberal crap that is going on.
I will admit - I started to PANIC when all this stuff hit the fan this past week, but I took a deep breath, and calmed down, and stopped throwing the cat against the wall, dug her claws out of my neck, and started to think quietly.
My advice is for everyone to do the same thing - except throwing the cat around, that is!
DOC HARRIS