Wachovia 4.85% Money Market account, $10,000 minimum opening..

NEW -> Contingent Buyer Assistance Program
Here's indymac's bankrate review..not the best..maybe too much sub-prime loans...





<a href="http://www.bankrate.com/brm/safesound/thrftmm.asp?fedid=1000503970">www.bankrate.com/brm/safesound/thrftmm.asp</a>
 
Here's the link to bankrate's reviews of financial institutions...





<a href="http://www.bankrate.com/brm/safesound/select.asp">www.bankrate.com/brm/safesound/select.asp</a>





wells fargo's got some high ROAs.. no wonder i'm leaving them.. nickel and dime our accounts with their fees...
 
<p>Yes, Indymac is going to have some losses as well is every other mortgage bank. I would make sure that the deposits are fully insured. They aren't going out of business anytime soon and they are well capitalized at the moment. 1-2 years from now may be a different story. </p>

<p>Bankrate also is a sponsored sight so it doesn't give unbiased opinions.</p>
 
FDIC is in much better shape than the FSLIC was in the early 90's and they paid off quite a few depositors. Liquidity is backed the full political taxing ability of the powers that be so I don't think that will be a real problem. Just keep your deposits under $100,000 including your interest. I never put more than $95,000 in any one institution. Remember the insurance only covers 100m total, that is principal and interest. Saw people get their principal back but were SOL on the interest.
 
So what if the FDIC does not have the funds to pay up? Are you saying the federal government will "loan" it the money? Or the federal Reserve?
 
Awgee, this is just a hunch, and should not be considered to be investment advice. That having been said, here goes:





I think that it is safe to say that if the FDIC does not have enough money to cover bank defaults


1) It won't be because too many Americans are saving too much (over 100k) money.


2) Congress will fund FDIC


3) Ben Bernanke will earn a lot of frequent flier miles from his helicopter trips
 
Thanks for the advice and input on Indymac. My 6 month CD that matured from Citibank was at 4.85%. The mm account at Indymac is at 5.25%, just wasn't sure if there was a catch, like they're going out business.
 
What's been going on with Indymac? The stock has taken a nosedive the last few days.





I just saw an ad from Washington Mutual that offers 5% on an online savings if you open a checking account.





Etrade just lowered their rate to 4.7% for their online savings.
 
<p>This past Friday, I transferred additional funds into my Indymac mm account. The rate already dropped from 5.25% to 5.12%. Hopefully, it stays above 5% and these guys are still around (Gulp!).</p>
 
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