ALERT...

One of the safest places that people had to save money with no risk and have it earning money was to put your money in a Money Market Fund. Although these funds pay very low interest, your money was NEVER worth less than what you had put into them.
Today, several of these funds have revalued your money at 97 cents for every dollar that you have put into these funds.
Have you noticed the nations largest banks are either failing or being bought up at 30 cents on the dollar by other banks ? Now, even the largest insurance companies are also failing. You may sit back feeling secure in the fact that the bank where you have your money is part of the Federal Reserve System and insured by the FDIC (Federal Deposit Insurance Corporation) for up to $100,000.
Get clear on this:
(1) The Federal Reserve is neither federal nor has any reserves. There are 12 privately owned banks that comprise the Federal Reserve System. The Federal Gov't. has no more control over these banks than it does over any other privately owned business.
(2) The FDIC is a corporation just like any other corporation and is also subject to fail. Any corporation whether large or small can fail. Just look at some corporations that were part of the backbone of this nation such as General Motors and Ford which are both on the verge of bankruptcy.
Banks are starting to fail at such a rate that foreign companies and governments are bidding as much as 30 cents on the dollar to buy them before they go out of business. As an example, The Peoples Republic of China Army has put in a bid for Washington Mutual Bank.
Before a run on the banks gets fully blown, get your money out while you can. The gov't. will make moves to try to "shore up" some of these banks and insurance companies (with taxpayer money of course) which will only slow down their demise.
You may be wondering how this all occurred. It all started under the Clinton administration where the Democrats decided to help expand the home ownership in this country by forcing banks and other lenders to finance people that normally could not afford a home. Billions and billions of dollars of these bad loans were written. As the "teaser rates" that these loans originated with climbed to their realistic rates, more and more homeowners could no longer make their mortgage payments and foreclosures climbed. Since most of these bad loans were discounted and resold to the investment bankers on Wall Street, repackaged and sold to investors in their 401K accounts, when the foreclosures started to multiply and people who bought houses with nothing down and a stating interest rate of less than 3% had nothing to lose by just walking away and leaving those holding these mortgages "holding the bag" with empty homes that were worth less than what was owed on them.
The Bush administration has tried for years to correct this problem but a Democratic Congress has stopped any action to halt or minimize this problem. This is just another reason why I urge all of you to vote out anyone that is now serving in Congress (career politicians) and allow new ideas to fill the halls of Congress with new Senators and Representatives. The Democrats thought that by "helping" people get their own homes, they could "buy" votes and it worked for a few years. Well, the bubble has burst and the game is over.
You still have anywhere from a few days to a few months to get you money out of Certificates of Deposit, Money Market Funds, Savings Accounts and any other investment associated with investing money related products.
Just remember, I've warned you and if you prefer to not take this warning seriously, you deserve to lose all of your money.