For those who don't know, Indymac's failure alone took out roughly 10% of the FDIC's reserves, and the failure of 7 more banks have it down around 17%.
http://www.bloomberg.com/apps/news?pid=20601087&sid=abahg9z7p4wU&refer=worldwideThere are several big banks (including, sigh, mine) that are in trouble. I think one of the reasons that they handled Indymac so quickly was to avert panic, but they will have trouble handling the failure of a bigger bank that fast.
I have a check to start a new bank account at a smaller but much healthier bank that hasn't cleared yet. My wife will switch her auto deposit over to the new account, then we'll let existing checks clear on the old account, then close it down. It will take a while.
