Is your bank on the likely-to-fail scale?
Is your money vulnerable because your bank is more likely to fail than other banks? How can you know?
Let's face it: No one can be certain in this economy. But you can research information published by resources that have proven to be reliable in the past. Two of those are listed here:
Money and Markets is an excellent analytical site. It brings you loads of information and points of view that have been correct - and correct early - in the past. Click the link above to go to a recent report by Martin D. Weiss, PhD, president of Weiss Research, Inc. Go to the homepage of Money and Markets here.
Weiss predicted the demise of Bear Stearns 102 days prior to its failure, Lehman Brothers (182 days prior), Fannie Mae (eight years prior), and Citigroup (110 days prior). Similarly, the U.S. Government Accountability Office (GAO) reported that, in the 1990s, Weiss greatly outperformed Moody’s, Standard & Poor’s, A.M. Best and D&P (now Fitch) in warning of future insurance company failures.
At the end of the report is a link to a listing of troubled banks and other financial institutions. You can search the listings for your bank - and hope that you do not find it listed! But if you do, you can consult the report for some suggestions on what to do.
Click the link above and go to a page of the popular web site TheStreet.com that allows you to search for your bank's rating and for ratings of other banks in your area. You can search by bank name or area, among other searches.
Bankszilla.com does its best to provide you with accurate information to guide your decision-making. However, Bankszilla.com and its owners and managers do not guarantee the accuracy or reliablity of the information on this website.
You are responsible for your decisions.
