The huge bank is in very deep trouble. No one outside its boardroom knows how deep, but here's one thing for sure: if you have more than $100,000 there, get it out.

Today I heard the sad story of an elderly California lady who sold $200,000 worth of gold - her life savings, inherited from her husband. She used the proceeds to buy the highest-yielding CDs - from IndyMac Bank. Now that it has gone under, she will get half of her money back right away, but may have to wait up to six years for $50,000 more, and may never get the last $50,000. Indeed, she may never get anything but the first $100,000. How much better to have sold a little gold when she needed cash.