Posts by James Brown85

True, but honestly, can you really blame them? When it's your life savings on the line, it’s only natural to play it safe and run for the exits.

Even if you factor in that FDIC insurance covers up to $250k, I’d still rather pull my cash out now than deal with the headache of waiting on our government bureaucracy to actually sort things out.

redmaker23 said:So I opened a CD at a branch back in Chicago, but right now I'm stuck out here in Phoenix. It should be possible to close it out at any branch, assuming they'll actually let me...

Yeah, you can. I opened one in Washington, D.C. and just closed mine today over in Slough.

The thing is, you won't actually touch the cash from that CD until they finish "processing" the request back in Washington, D.C., so don't expect anything from them today or tomorrow (though maybe things would work differently in a normal world).

I get the feeling the bank's bigger headache isn't actually the threat of sanctions, but rather the fact that everyone decided to panic and pull their cash out all at once.