Politics aside-is my money safe? ?
I know this should be posted in the personal finance section, but over the past month I have come to really enjoy the Politics section of Y!A.
The bailout failed, and the concern I have is if my money will still be in my accounts. I have 2 major bills coming up and I am wondering if banks will begin to freeze accounts. Will my check fail to clear, even though I have the funds to cover the amount? One account is through Primerica and another is through JP Morgan Chase. Mortgage is through CitiGroup. What about using my credit card? What I am hearing on CNN is that there may be instances where the average American may not have access to his/her own money if the banks are failing.
Your money is safe for now. The best way to calm yourself is to pay off debt and maintain an emergency fun of three to six months of expenses.
Although the government has a deficit, FDIC has some funds and the credit of the US Government is still good.
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