MONEY: FDIC “insurance” … means what?

http://www.reuters.com/article/topNews/
idUSWA000014120080714

http://tinyurl.com/5l2t7z

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“I have $360,000 in this bank, and I was misled by this bank,” said Robert Clark, a Glendale resident. “I gave the names of my mother, my sister and my brother on the account so I thought I would be insured. I don’t know what to do. I really don’t know what to do.”

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Old Wall Street saying: “I’m not so concerned about the return on my money as I am about the return of my money!”

Word to the wise!

And, in my eexperience, the clerk at the bank — regardless of level or office — may know less than you. It’s your money, be sure!

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