I forgot I had a spare 500k in Netbank. Easy come easy go. I had an alert on NTBK to take the money out when it went under 6 cents. They pulled the plug early and I missed the window.
you have to understand why the banks failed. excess credit lending and risk by the banks. if it wasn't for the FDIC the depositors would have loss all their savings deposits.
It's not uncommon in the financial world to use the suffix "M" to mean "thousand", "MM" to mean "million". and "MMM" to mean "thousand-million" ("billion" in the US). This can be confusing as another convention is to use "K" for "thousand" and "M" for "Million". "$100M" could mean "100 million dollars" or "100 thousand dollars" depending on the convention being used.