Released: September 07, 2008

How to determine your bank’s financial health

Source: E. Scott Reckard, Los Angeles Times (Free Registration)

How can you tell whether your bank is in hot water?

More people have been asking that question since the collapse of Pasadena mortgage giant IndyMac Bank in July. After the government took over the bank, many customers had to wait in line for hours before they could speak to anyone about their deposits.

“Who wants to stand in line to do the paperwork, or find out because you didn’t dot an ‘i’ or cross a ‘t’ some bureaucrat doesn’t want to give you your money? 

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