FDIC insured upgrade to $250.000 - Wait !!

gbk99 · 10-06-2008, 01:48 AM

I have a friend in the banking business and here is something you all should be aware of. The FDIC insures your money for $250,000 now, which is up from the the previous $100,000 that was the industry standard for years. They basically did this to get people to go for the $700 Billion dollar financial bailout of the banking system. But here's a twist, if you had to make a claim the FDIC would not have to pay that money back to you for up to 99 years. It's in the small print ! You've been had again !

10-06-2008, 01:48 AM	#1
gbk99 Avalon Senior Member Join Date: Sep 2008 Location: Tempe, AZ Posts: 15	FDIC insured upgrade to $250.000 - Wait !! I have a friend in the banking business and here is something you all should be aware of. The FDIC insures your money for $250,000 now, which is up from the the previous $100,000 that was the industry standard for years. They basically did this to get people to go for the $700 Billion dollar financial bailout of the banking system. But here's a twist, if you had to make a claim the FDIC would not have to pay that money back to you for up to 99 years. It's in the small print ! You've been had again !