| SaviorX said: So what's going to happen to us? What will we lose? |
4) What about my investments with these firms/what about my bank going under?
FDIC insured banks are insured for up to $100,000 dollars on checking, money market accounts. Joint accounts are i believe $150,000. Investments are protected for up to $500,000. When you have assests in an institution that is bankrupt that excedes these values its a stand in line scenario to see if you get everything back or just what is insured.
So, for most of us, we should be ok. I do not forsee a true depresssion, but this is obviously not good. Most of us will not loose anything, but it will be harder to get loans. And if you have investments in some of these companies going under, you will loese money on thier stock.
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