Split up your bank accounts

After the closing of IndyMac Bank you think that people would learn not to put all their eggs (money) in one basket. First find out if your financial institution is federally insured. The amount in each account is typically insured to $100K tops. If you have $150K, like one poor sap on the TV news said he did in IndyMac, he will more than likely not see that $50K again. If he had only took that extra $50K to another bank or credit union he would be OK.

You have got to learn and treat banks just like the stock market and diversify your accounts. The banks will tell you it is easier to do all of your banking with them but protect your money and have several banks.