Yes I know it is 2008 but this list makes interesting reading.
http://www.gfmag.com/bestbanks/safest_banks.htm
Came from:
http://www.gfmag.com/index.php?idPage=1018
The 2009 list will be even moreinteresting.
No global banks are safe.
Neither are National or regional banks.
Credit Unions seem to be holding there own, although.
In the U.S., virtually all banks participate in the Federal Deposit Insurance Corporation (FDIC). See:
http://www.fdic.gov/index.html
That system insures each person’s interest bearing savings account at each individual participating bank up to the current maximum of $250,000. They also now insure various checking and other types of accounts. The actual amounts and conditions are subject to change over fairly long time periods, but they are generally quite stable.
The independent FDIC was created ~75 years ago by an act of the U.S. Congress. They like to state that not a single FDIC covered bank depositor has ever lost a penny. I believe that statement is true.
Due to numerous failures of insured marginal banks, the FDIC has recently raised the rates the covered banks pay, but again, those rates are low and very stable.
When the FDIC does take over a bank, the FDIC takeover employees swarm in to insure against looting and to continue its operations. Doing this assures depositors, helps prevent ‘runs’ on the troubled bank and allows the front operations to continue. The target bank is immediately put on the market (many times prior to the actual moment of takeover) and usually sold to a healthy competitor within a very short time. The FDIC picks up the losses that would accrue to the depositors, but the failed bank’s investors are usually out of luck.
It should be noted that the FDIC itself is guaranteed by the U.S. Treasury, so unless our government goes bankrupt, there shouldn’t be much question about the overall long term safety of U.S. bank deposits.
Credit unions have their own system, the National Credit Union Administration (NCUA) that similarly insures member credit unions to the same amounts as the FDIC. See:
http://www.ncua.gov/index.html
Since credit unions are organized and operated for the benefit of the membership rather than the pure profit motive of private banks, they generally take a much more conservative financial approach. There haven’t been many credit union failures, even in the current crisis.
Happy RRing,
Jerry
Under the mattress is looking attractive.
No room under there Tom.
That is where all the reds are hiding. 
Hmmmmm. Look at what Tony is wearing.
Do you want him in the same place as you stash?
That depends on what the stash is.
Money I can do without. Well for a little while anyway.
I figured you’d jump on that… :lol:
Steve.
Congratulations. You are starting to show a rational side after all.
Tony, I did come of age in the late 60’s, same as you… 