I really enjoyed reading this article, although I think TheOnion.com would be much better suited publisher.
Here are some excerpts:
Banking experts say there is one thing that will save your money if your bank goes under. That's FDIC insurance. "It's the gold standard," says banking consultant Bert Ely. "The FDIC has ample resources. It's never been an issue," he says.
As loan delinquencies rise, and bank failures increase, the FDIC is shoring up its reserves.
That's fascinating, because last I checked (about five minutes ago), the FDIC had in its assets about 1.2% of the deposits it claims to "insure".
If your bank bites the dust, there's nothing to fear according to the FDIC. A healthier banking institution normally buys the failed bank according to Barr. "There is little or no interruption to the consumer," he says. "If you go to bed one night as a customer of a bank, and you wake up as a customer of a new bank, there is nothing you have to do." Your checks will still clear, you can still use your ATM card.
See? Bank failure isn't even a bad thing!