Ever wonder how FDIC deposit insurance works on a micro level?
At a Chicago WaMu branch on Friday, Catriona Johnson, 27 years old, said she had come intending to take out all her money. "I wanted to close my account and hold it in my bra or something," she said. However, after being told that her account balance is federally insured, Ms. Johnson, the administrative coordinator at a Chicago company that tests homes for the presence of toxins, decided to leave the money alone for now.
There must be a liquidity joke in there somewhere, but I won't make it.
Posted by cradle at September 27, 2008 12:13 AM