I don’t know how the FDIC insurance works, or what happens to your accounts if a company goes bankrupt. Plus, it seems like you guys have multiple accounts there as well, adding a bit more complexity.
When Countrywide’s troubles started hitting the news, I had one of their high-interest money market accounts. I transferred it all out immediately. So far, Countrywide is still around, but when people were lining up to take their money out and stressing out…I was able to chill on the sidelines. Peace of mind is worth a lot to me.
