[jasonraymondson]

http://www.cnn.com/video/#/video/busine ... ty.net.cnn

Great video showing a women who lost $20,000 when her bank folded up.

[Cashmere]

Any idiot who has 120k in their single bank account should be parted from their money immediately.

[Gorm]

How understanding of you. Everbody that dont know everything about bankingrules are idiots and deserv what they get?

[UncoveringTruths]

There's alot of optimistic folks out there thankfully so or we would be in the middle of a shitstorm. IMO bad form on scorning folks who lose.

[Gorm]

And she was one of the far too few that had saved money in the bank, and that with a low-income pay. So, I fell sorry for her and do not think she deservd it at all.

[hironegro]

How understanding of you. Everbody that dont know everything about bankingrules are idiots and deserv what they get?

Welcome to America, the land of boot-straps and I told you so!

[Peepers]

Ever hear of not putting all your eggs in one basket?

Ever learn in school that the FDIC insures accounts up to $100,000 (usually!)??

Ever learn to read the fine print, especially with something so important as your money??

C'mon folks. This is Life 101. You are giving your money to strangers for them to keep. Learn the safeguards and conditions of how they will treat your money. If your money means so little to you that you don't want to be bothered with how your money can be better protected, then don't cry when you lose it.

When it comes to money, there is no sympathy. Treat your money as if others covet it and will want to steal it the first chance they get. Because they surely will.

[Gorm]

You are way to obsessed with money I think. Money is just money, life is so mutch more. So she missed some basic 101, that sucks for her, true. But we all make mistakes, hers was to save too mutch money in one account. That does not make her an idiot.

[AlexdeLarge]

Ever hear of not putting all your eggs in one basket?

Ever learn in school that the FDIC insures accounts up to $100,000 (usually!)??

Ever learn to read the fine print, especially with something so important as your money??

C'mon folks. This is Life 101. You are giving your money to strangers for them to keep. Learn the safeguards and conditions of how they will treat your money. If your money means so little to you that you don't want to be bothered with how your money can be better protected, then don't cry when you lose it.

When it comes to money, there is no sympathy. Treat your money as if others covet it and will want to steal it the first chance they get. Because they surely will.

So are you suppose to spread your money between 6 or 7 banks?? That's not very realistic and a paper work nightmare. I have assets spread in three banks. Two at the 100k level, the rest in BOA. I use BOA as the primary working account.

If BOA goes down...............it will not really matter. You will not need cash or gold. You will need bullets.

[charliebrownout]

How understanding of you. Everbody that dont know everything about bankingrules are idiots and deserv what they get?

Welcome to America, the land of boot-straps and I told you so!

Reminds me of something K. Vonnegut said about Americans in Slaughterhouse Five...I think it was actually supposed to be a musing of his alter ego the pulp-sci-fi writer. Something about scorning the poor for being poor. The self-loathing of Americans....

Wish I had the book handy for a full quote.

This lady was trying, but with the inadequacies of education in this country and the outright misinformation that's been going on for ages--can you really blame her for her own misfortune?

The deck is stacked. I feel badly for her. My mother-in-law is a bus aide.

[VMarcHart]

I am sympathetic to her situation, but with a limit.

First, why was she putting both hers and her husband's money in her name in one single bank? I understand the id fraud situation, but it has been said above ... all the eggs in one basket?!?! Not smart!

Second, while thousands of customers were running on the bank, why didn't she withdraw their money?

Third, we saw a lot of that when people lost everything they had when Enron, MCI, Worldcom et al went down in flames, and people still not learning lessons.

I'm sorry she lost $20K, but she should be counting her blessings it was not the whole $120K.

[Madpaddy]

If she buys Goldman Sachs shares with the $100,000, she will make her money back in no time.....

[Peepers]

You are way to obsessed with money I think. Money is just money, life is so mutch more. So she missed some basic 101, that sucks for her, true. But we all make mistakes, hers was to save too mutch money in one account. That does not make her an idiot.

Hardly an obsession. All I know is that I worked hard for what little money I have. If I care about something, I protect it. If I don't care enough to learn how to protect it, then I shouldn't piss and moan if I lose it. It's that simple.

[gnm]

Being that the interest rate on savings is lower than the rate of inflation by a large margin, AND you get taxed on said interest as well, I don't understand why anyone would have savings anyways. The tax policies and general economic climate just don't support any reason to save...

-G

[HEADER_RACK]

You are way to obsessed with money I think. Money is just money, life is so mutch more. So she missed some basic 101, that sucks for her, true. But we all make mistakes, hers was to save too mutch money in one account. That does not make her an idiot.

Life is hard. It's even harder when you're Stupid !

[nobodypanic]

Any idiot who has 120k in their single bank account should be parted from their money immediately.

it was in two seperate accounts in the same bank. when the bank failed, the FDIC added the accounts together and bye bye 20k.

she still has a 100k though. crap she should feel lucky it wasn't worse. a 20% haircut is tough, but then look at the markets.