Deposit insurance and your savings

"Don't ask if your money is safeGIVEN that you should never shout a€œfirea€ in a crowded theatre, it was perhaps unwise of your correspondent to walk into his local branch of JPMorgan Chase and ask, a€œCould somebody please explain the deposit insurance rules to me? I want to know if my money will be alright if the bank goes bust.a€a€œCould you come with me, sir?a€ was the cashiera€™s urgent reply, leading me briskly out of the public area where the question might alarm other customers. Once in a private room, she visibly relaxed. She explained that before the past few days, nobody had asked about the deposit rules in yearsa€”in fact, the first time she was asked, she had to look them up. ..." (2008-9-30)
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