Considering the failure of IndyMac bank and the defaulted Fannie Mae and Freddie Mac, confidence in banks is very low and so I thought I'd start this thread in order for us to keep up with the secrets the MSM keeps with regard to your money.
To open this up let me ask the following question: Is there currently a run in progress at your bank? If you don't know and are in a position to go check, please do so. In the meantime, here are a couple of red flags:
National City-NCC: Issued statement in response to market rumors
The company said, "National City is experiencing no unusual depositor or
creditor activity. As of the close of Friday's business, the bank maintained
more than $12 billion of excess short-term liquidity. Further, as a result of
our recent $7 billion capital raise, National City maintains one of the highest
Tier I regulatory capital ratios among large banks."
According to Okeven over at
http://www.tickerforum.org/cgi-ticker/akcs-www?post=52332&page=2">TickerForum
"NCC was one of the lenders who portfolio'd 100% single lien ALT-A loans WITHOUT MORTGAGE INSURANCE. Whether or not they purchased insurance on the back-end or simply took 100% of the risk, I do not know."
National City trading has been halted after shares declined 27%.
Washington Mutual: Has also released a similar statement.
Any anecdotal evidence whether or not these two banks are currently under siege by depositors?
Edited to add: Market indices took a 180° southerly turn on these rumors. Waiting for confirmation that all is well - or not.