51:56 minutes (24.93 MB)
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Several reports say that as many as 150 banks could fail during the current credit crisis, but how big would the impact be?
With headline grabbing bank failures like California's IndyMac, and the government-sponsored bailout of enormous lenders Fannie Mae and Freddie Mac, many Americans are getting worried about where they've put their investments.
The Federal Deposit Insurance Corporation or FDIC says "no worries" the banking industry is safe and sound, and deposits up to 100 thousand dollars are covered by the FDIC. Connecticut's banking commissioner says the state's banks can deal with the current economic conditions and, in his words "It's time to take a deep breath."
So, are your fears calmed?
Today, Where We Live a look at the state of the banking industry in Connecticut and across the nation. What's being done to keep your money safe? Are there any signs that things are improving?
Banking commissioner Howard Pitkin joins us, along with Dan Haar of the Hartford Courant, and Nick Perna of Webster Bank.
See more pictures of Where We Live's in-studio guests at WNPR's Flickr site.
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