Indy mac blowing up was the first shot. Just do not get comfortable placing those hard earned bucks over $100,000 in any single account. Today 2 more banks blew up here is the link : http://biz.yahoo.com/ap/080726/bank_takeover.html CARSON CITY, Nev. (AP) -- The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. The banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said. It ain't going to end here. Your deposit institution may not be telling you anything. They have have those nice red posters hawking 3.5 % CDS and what not, inside they are getting killed by this economic tsunami. The solution: Create as many entities as you can and place no more $100,000 in each. Read www.fdic.com website as how to get extra protection. Make sure its a legal entity with its own TIN numbers and a street address and clean incorporating papers. Nevada LL Cs are a great vehicle for opening bank accounts and stashing cash since you cannot plow them into stock market any more or real estate. They costs about $350 and can be formed overnight. They create complete privacy and iron clad protection from potential litigators and sue happy attorneys. When things get tough suddenly lawsuits emerge checking out your assets. Use a wisely selected asset protection plan in place. A potential litigator can end up in a complete nightmare if he tries anything on you. Go overseas, Swiss bank accounts. Australian bank accounts. Possibilities are tremendous. Just do not stick your money in this garbage can. Look at the charts of publicly traded banks like Etrade.com and others. Are these stocks going single digits? That should raise some hairs on your neck if you are a smart cookie.