One of the saddest things about this is how many of the ignorant commenters to the story believe that the life insurance will not pay. Unless the suicide happened soon after the policy was taken out, called the exclusion period, the company must pay. In some states the company has to prove the policy was taken out with the intent to commit suicide, even if it was recently acquired if they don't want to pay.
And,
http://realestate.aol.com/article/_a/ne ... 4809990001
This is also sad. Some good people who got hurt because of the good they were doing. Still, and all, it was a choice to take on all those kids and quit work. I'd be more willing to applaud their decision if they had been able to be financially responsible for it.
But... don't worry, your money is safe:
http://money.aol.com/news/articles/_a/b ... 1200298407
"When we made projections on failures at the start of the year, we usually had the total number about right, but we had the institutions all wrong," he said.
To that end, he points out that IndyMac probably wasn't even on the FDIC's watch list of problem banks as of the end of March.
It's starting to remind me more and more of this:
http://appraisers.freeforums.org/crunch ... ht=crunchy
"Well, people are used to the government lying to them."
