There won't be any "refusal to pay" because the money was deducted from the accounts while the bank was closed.

We owe THEM money, if we don't pay what are they going to .. take the White House?

Why have your money in savings account anyway? You can buy a good company like General Mills that pays a healthy dividend and INCREASES it every year! Same as JNJ or Bristol Myers!

Don't fight the FED, interest rates will remain low for a very long time.

REMEMBER if you are getting .50% on your CD or saving account and inflation is around 2% you are LOSING 1.5%!

I AGREE..................:beer3:

Well I guess you could say the same about the money in the Cypress bank accounts? They should have known better and therefore they are really doing it to themselves?

Not the point. The OP was sighting the seizing of a % of bank accounts and all I'm saying is without the interference of the Fed rates would be much higher than they currently are today. Therefore the Fed is really doing the same thing. I on the other hand make 20+% on my money year after year trading options and only have 6 months expenses in a MM account. I can't understand why anyone would tie up money in stocks when there is so much money to be made in derivatives.