I've just found out that NetBank, the online bank where I used to keep a good chunk of my savings, filed for bankruptcy last week as a result of the subprime mortgage crisis. (It's the first savings and loan to fail in more than fourteen years.) As you probably know from the fine print on your banking statement, deposit accounts are covered up to $100,000 by the FDIC, but a lot of people seem to have been keeping savings in excess of that amount, which means that they get to be creditors in NetBank's worthless receivership. As for me, I switched to a different bank a couple of years ago, but if nothing else, the situation serves as a good reminder of why you shouldn't keep all of your eggs in one basket.