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This post is part of a series where personal finance expert Dan Solin looks at money moves that may seem smart in tough economic times, but are actually quite dumb. See all 12.

Life used to be very easy. If you were looking for safety, you drove (or walked) to your friendly neighborhood bank and purchased an FDIC insured Certificate of Deposit. While the interest earned may not have been earth shaking, at least you knew your money was safe.

These days, bank failures are almost daily news. We have seen IndyMac, First National Bank of Nevada and First Heritage Bank go under in the past few weeks.

So is your money still safe?

Continue reading Dumb Money Move No. 1: Trust your friendly neighborhood bank with your life's savings

Dumb Money Move No. 1: Trust your friendly neighborhood bank with your life's savings originally appeared on BloggingStocks on Wed, 06 Aug 2008 06:00:00 EST. Please see our terms for use of feeds.

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