A few days ago one television news report showed a woman who had her family funds in an FDIC insured bank. Yet she said she still lost over $20,000. Why? She did not realize that she was over the monetary limit because of recent changes to her and her husband’s financial picture. When you check to see if all of your finances are insured, don’t forget to check your retirement account, savings, CDs, etc. Check and double check everything.
Today was an historic day in our nation and especially on Wall Street. The President asked for a $700 billion bailout for the financial industry and the House of Representatives voted, “No!” Wall Street responded with the Dow Industrials dropping 777 points and NASDAQ losing over 9% of its value, the largest single day’s percent drop since 1987.
What will tomorrow bring?
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