Are Banks the Safest Places to Invest?
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The Treasury's money market fund guarantee just expired. Where to go for safety?
SINGER: [H]ere we are, at a moment in history, when investors are concerned about safety and looking to deposit their savings in something secure, and, lo and behold, we learn that FDIC's own books are a tad light and that this critical player may need billions in bail-outs funds or may need to secure funds from the very banks that it covers. That type of news story cannot be beneficial in terms of assuring already antsy investors. This is the legacy of the Great Recession. Not only are many of our once revered institutions gone or damaged, but there is an uphill battle merely in terms of gaining back the trust of battered investors. It's sort of like the movie Jaws--imagine being the lifeguard who is telling the bathers that it's OK to go back in the water just as another dorsal fin appears.
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