With the stock market taking a nosedive on the U.S. credit rating downgrade, you might be looking for a place to move your money and wait out the volatility. Should you move your money into long-term CDs?
I want to send Wall Street a wake-up call, as they don't seem to be getting it. The best way is with my dollars. My resources don't add up to what a chairman of a Wall Street bank gets in an annual bonus, but keeping those dollars away is a start.
Even though FDIC deposit insurance is a federal program, it is not likely to be an immediate victim of a possible federal government default. In the long run though, anything is possible if things reach such a dire outcome.