Should Tech Workers Worry About Their Bank Deposits?
Technology workers are nervous enough without worrying about the health and safety of their investment deposits. While I think what I’m bringing to you now is nine parts hyperbole and one part reality, it makes for an interesting and even frightening discussion. Specifically, are your bank and investment deposits safe? Today’s Tech Ticker has an economist who thinks there might be justified cause for concern. Before I get into that, note that the Federal Deposit Insurance Commission (FDIC) insures individual bank accounts for up to $100,000, although if you have more money than that in the bank and your bank goes under, you’re under your own. Also note that the fundamental health of the economy is good. Right now, I’d like to see the evidence that the virus coursing through the finance and housing sectors – and it’s a bad one – is coursing just as harshly through other sectors, even technology. As Tech Ticker points out, U.S. Treasury Secretary Henry Paulson has said as much. “The bank
