Customers were lining up as early as 4 a.m. to get their money out of the Pasadena mortgage company that was taken over by regulators on Friday. FDIC employees tried reassuring folks who were fully insured that their money was safe, but emotions run high when a bank fails. Customers with $100,000 or less in deposits or with $250,000 or less in a retirement account have full access to their funds. (LAT)
On KPCC's "Airtalk," Larry Mantle spoke with LAT columnist Kathy Kristof and economist Chris Thornberg. Later on, I was on Patt Morrison's show and took a bunch of calls on FDIC coverage and the prospect of more bank failures.