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Apparently FDIC regulation that Government set is causing the problem. Everyone is insured up to $100,000 under FDIC.
AIG is a bank using FDIC insurance, then government need to take over to clean up as return money to all customers. MAX $100,000 per client if they had that much.
I heard one deaf club in Nevada had invested $280,000 in local bank for higher interest rate, but it shut down bank. So they only got $100,000 out of what they left in bank. OUCH.
I do wish Government do not take over companies... Unless they break up the company and sell each section to other private company such as Bank of America or any investors can afford it.
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