What’s the Safest Place for My Money?

What’s the Safest Place for My Money?

The past two weeks have seen some of the biggest names in finance brought to their knees. The bailout of AIG followed bankruptcy at Lehman Brothers, the sale of brokerage house Merrill Lynch and the nationalization of Fannie Mae and Freddie Mac, the quasi-public mortgage buyers. So with all that going on, what’s the safest place for my money?

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A Rash of Bank Failures Coming

 A Rash of Bank Failures Coming

 Because of their customer-abusing practices, few tears will be shed when the banks fail

William Seidman is the former chairman of the Resolution Trust Corp., the agency Congress set up in the 1980s to clean up the savings-and-loan lending mess. He’s also a former chairman of the FDIC. Here he talks about the housing rescue plan taking shape in Congress and on the state of banking in the United States. The picture he paints isn’t pretty.

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