I felt the same pain recently with a few navy fed CD’s that just matured, going from 6% APY down to 2.7% APY definitely hurts. So I took all the matured CD’s from Navy Fed and went around the corner to countrywide in mission valley and got 4.15% APY on a 12 month CD. Highest rate I could find and the banker there was very nice and friendly and honest about the current finacial crisis when we chit chatted with him while starting the CD. I wanted to stay with navy fed as i have everything with them but I couldnt justify the loss of interest and I asked and they would not match countrywide. Just stick to the FDIC limits and everything will be fine regardless who goes BK or merges with whomever.