How the FDIC protects your bank savings
By Marcia Passos Duffy
Today, when a bank fails people might feel anxiety, but it doesn't cause the blind panic of the crash of 1929 - when people lined up to pull their money out of banks.
Most of us alive today don't remember - but history books will tell you - that before the government insured your bank-deposited money, there was absolutely no safety net if something went wrong. If a bank failed it was your own tough luck and the bank took all of your hard earned money down with the sinking ship.