I admit it. I got shaken for a quick second last night when my BlackBerry went off just before the show to tell me (really, tell us all) that the largest bank failure ever had just happened. The FDIC popped in to seize Washington Mutual (“seize” is a scary word) and moments later; another big fish came in—JPMorgan Chase —to take over.
But that was the good news: The Fed didn’t have to bail another big business out.
With Wachovia now talking toCitigroup , it’s like one big banking love-fest on Wall St. for those left standing.
Now what does this all mean to you?
Knowing the rules and paying attention is more than half the game of keeping up with our daily economic news and making sure your money is safe. Let your confidence come from being in control of what you can control—what you do with your money.
So as this cleansing process (ahem) in the banking industry and Wall St. and Washington continues, what do you fear is next? What answers are you still not getting? Ask away! I can’t wait to hear from you…