>>>>That's a scary article.
>>>>
>>>>>http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=amZxIbcjZISU
>>>
>>>Don't worry about Horn. She'll be all right, as will most of Pasadena, California-based IndyMac's 200,000-plus customers.
>>>
>>>That's because the FDIC, created in 1934, insures all accounts up to $100,000 at its member banks, and it has never failed to honor a claim. The people to worry about are U.S. taxpayers.
>>>
>>>If he mentioned it in the article, I missed it. On average, how long does it take the FDIC to honour a claim?
>>
>>It depends on availability of FDIC funds. As it stands now, FDIC provides up to 100K immediately, and whatever exceeds this level can still be partially recovered in few months. Obviously, in case of financial strain this time could be increased significantly (it was up to 2 years in time of S&L crisis) and no restitution over 100K limit would be available.
>
>Let me see whether I got this right:
>up to 100k - immediately; whatever exceeds it, later, in a few months.
>
>in case of strain, this time (what time - "immediately" probably not, it means "in no time", so it must be "few months" for these over 100K) could be increased, and for those over 100K it may be never... hm, does this mean that "immediately" does mean time? IOW, when it gets tight, those below 100K may need to wait, and for whatever is beyond that, don't bother to wait, right?
>
>I'm just as guilty of creating similar confusion in my posts, so don't take this as a fight - you'll recognize it if we go at it again, this is just the pot sharing black experience with the kettle.

Imho, you post creates uncertainties that didn't exist in my message. As it stands now, 100K is available immediately, i.e. without interruption. If situation gets tight then it could take time, law does not mandate immediate access to money. FDIC is not mandated to return anything exceeding 100K, but right now they still make partial recovery and in this case customers should fill application and wait for approval.