WTFDIC?

So I got an email yesterday afternoon from a friend telling me to start checking on N.etB.ank. Because the FDIC shut them down. Um, I pay my mortgage from that account, did the check clear first? It wasn't as bad as hearing it from strangers, in that I got that email before I saw it on the news, but I'm thinking quick email from the bank or the FDIC wouldn't have gone amiss. I had almost stopped to get lunch cash from my N.et.Bank account and would have been hella confused in addition to resorting to last decade's slang.

It turns out that ING bought the accounts and everything is back up. But I had just had a brain flash a couple weeks ago to print out my recent account histories and totals, just in case, but then I thought "nah, I'll do it later". Well, today is later and I'm printing like mad. The numbers all seem to be normal so I hope I don't have more bad dreams about trying to prove my balances with handwritten numbers on post-it notes. "I swear, I looked it up just last week, honest! That money is MINE!"

Had I not been able to access my kitchen renovation fund for a couple months while the FDIC "protected me", I woulda been more than a tad tweaked. Especially since, in the way of business money, I'm not quite sure why only having a $0.2Billion reserve on $2B in assets requires drastic action. (I could have read the news article wrong, but that was my interpretation.) It kind of made me think they were getting the smackdown for being successful without kissing up to a brick and mortar bank. They've all had to improve service exponentially since Ne.tba.nk made the scene.

I really wish people would stop panicking about the mortgage situation. Did no one else watch those commercials saying "no money down, no credit check, we don't need proof of a job!" and think "that's a foreclosure waiting to happen!". But even so, can't a bank handle a 3% failure rate without collapsing? It just seems nuts.