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I have my EF in an HSBC online HY savings account. I just noticed this morning that their Bankrate Safe and Sound rating has dropped down to 2 stars and with Indymac going down the tubes, do you think I should move my EF elsewhere? I read the Bankrate statement on why its rated that way but didn't understand very much of it.
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Last edited by aurielle; 07-13-2008, 05:09 PM. -
My entire housing down payment is in WAMU~ if they are going down it better be quick before these 90 other banks get in serious trouble and wipe out the FDIC.
actually, I'm not so concerned anymore. I heard that about 30 banks a year fail, and that the FDIC has 54B~IndyMac is going to use up 8-9B. And for a majority of Indymac's customers, it is business as usual come tomorrow morning.
So as long as we follow 'our' rules by staying in FDIC limits, and the fed follows its rules by providing FDIC money, then as far as I'm concerned it's the banks problem if they want to follow good business practices or not.
I dont know if HSBC is ok, but even if it's not, I think your money will be ok. -
aurielle - Do you also have a bank account at another bank, or is HSBC your only bank?Comment
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I have a regular checking & savings at at a large national bank and an online MMA at a brokerage.Originally posted by scfr View PostComment
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