Summary
NEW YORK -- The credit crisis has done more damage on Park Avenue than on Main Street, but the near-collapse of investment bank Bear Stearns raises the question of whether Wall Street's troubles could spread to commercial banks and ordinary depositors.
The short answer is this: Deposits in commercial banks are considered safe, barring catastrophe, and they are protected by federal insurance if a bank fails.See the full content of this document
Extract
Bank's Failure Is No Cause for Panic
"The average guy on the street has nothing to worry about," said Gerard Cassidy, a banking analyst at RBC Capital Markets. "There shou...
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