Quote Originally Posted by makaikhaan View Post
So what happens when Bank of America pulls the same that all these other numnutzes have done?
I haven't seen the balance sheets, but I believe Bank of America is fairly isolated from the mortgage crisis. They avoided sub-prime lending and investing, and they have a huge amount of capital. They had tried earlier to start an investment banking arm, but it never really took off, so taking over Merrill Lynch gets their foot in the door and shores up Merrill's investments. What sank Lehman is not debt, but the inability (or the appearance of) to raise capital to cover that debt. Banks like Wachovia, Washington Mutual, etc, are in trouble, best to avoid those, once the blood is in the water it's only a matter of time. There are a few big banks that kept away from the mortgage wheeling and dealing, those will be the best bets for survival. As far as where your money goes, look up the rules of FDIC insurance. If you have more than $100K with any one bank under one name, start up an account elsewhere and transfer.