Safety of savings on deposit

[Dale Osborn]

I do not know about you, but with all the troubles you read about concerning Bank of America it makes you wonder if your money is safe with them. If I had any funds in their bank - I would take it out as fast as possible. Then I think I would be able to sleep better at night!

[Jon Holdman]

It is FDIC protected, as long as you're below the FDIC insurance limits. Now, perhaps you're concerned that the FDIC won't be able to pay off such a big default, or that a B of A failure would trigger a complete collapse of the US economy. But, so far at least, the FDIC has made good on all insured funds.