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August 10, 2009


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Tim Zinnecker

Kim, with all these bank failures, maybe some readers are ready to park their money with the Krawiec Mattress Company!

No need to panic, though, unless your deposits exceed the maximum amount insured by the FDIC. The magic number has been $100,000 for a long time, but last Fall the feds temporarily raised the number to $250,000 (set to expire at the end of this year, I believe, except for retirement accounts that will stay protected at $250,000). And there are numerous ways to structure accounts to maximize coverage (e.g., single accounts, joint accounts, POD accounts, etc.).

For additional reading (keeping in mind that the numbers have changed), see:

When A Hundred Grand Just Isn’t Enough: 50 Hypotheticals that Explore the Contours of FDIC Deposit Insurance Coverage, 72 Tenn. L. Rev. 1005-1040 (dated 2005; published 2006).

Some guy named Zimmberger, Zinkletter, Zimmerman, Zinnecker, etc. authored the article. (I can never remember how to correctly spell his name.)

Kim Krawiec

Zinnecker? Oh yea, *Bob* Zinnecker, right? Comments here sometimes about baseball trivia? I didn't know he also wrote law review articles! ;-)

Tim Zinnecker

Watch out. Maybe there's a "Bob Krawiec" out there, ready to poach on your fame, too!

Just as long as no one names their dog after me ....

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