Days, the following might answer your question:

“FDIC Deposit Insurance Coverage Frequently Asked Questions”

10. Can insurance coverage be increased by dividing my deposits into several different accounts at the same insured bank?

Deposit insurance coverage can be increased only if the accounts are held in different categories of ownership. These categories include the four most common consumer ownership categories: single accounts, self-directed retirement accounts, joint accounts, and revocable trust accounts; and the less common ownership categories: irrevocable trust accounts, employee benefit plan accounts, corporation, partnership and unincorporated association accounts, and public unit accounts.

I wonder if John back pain Austin’s friend has 3 accounts— all of the same category of ownership…

“Interesting in that this is the first time in recorded human history that Chuck wasn’t immediately in front of a microphone and camera.”

Classic. And now he is trying to deflect the blame of starting the bank run, according to the Wall Street Journal tonight. They wrote:

The saga started in late June, when Sen. Schumer’s letters to the FHFB, OTS and the Federal Deposit Insurance Corp. rang alarms that IndyMac “could face failure if prescriptive measures are not taken quickly.” He noted the thrift’s falling stock price, climbing delinquency rate and recent downgrading by analysts.

Sen. Schumer’s office publicized the letter June 27, providing it to The Wall Street Journal and other publications…

But the Office of Thrift Supervision has been critical of Sen. Schumer for alarming IndyMac depositors, saying that in the 11 days following release of the letter, depositors withdrew more than $1.3 billion. OTS Director John Reich said Friday that Mr. Schumer sparked a deposit run that “pushed IndyMac over the edge.” Publicizing the June 26 letters was “an unprecedented act,” Mr. Reich told reporters Friday. He said Sen. Schumer should have privately addressed his concerns with regulators.

Sen. Schumer rejected that, saying that, while banking regulators do their work in private, lawmakers typically do theirs in public. Sen. Schumer, the head of Senate Democrats’ re-election effort, threw in a political jab as well. “Clearly what was happened here was the OTS, having the second-biggest bank failure on their watch, sought to blame the messenger. In sum, it’s sort of classically what this administration does. Blame the fire on the guy who called 911.”

“Schumer Deflects Blame To IndyMac, Regulator”
Sarah Lueck
Wall Street Journal, July 14, 2008

Wait a minute..are you saying that if a person has over $100K in multiple accounts they are not FDIC insured?

What if the money is in different banks?

Those with multiple accounts under $100,000 but totaling more than $100,000 are probably screwed. During the S & L mess I had a friend with three accounts each under $100,000 that totaled $230,000. She was reimbursed a total of $100,000. Those at the S & L assured her all the money was insured. There was another S & L across the street. She lobbied Congress to no avail.

Interesting in that this is the first time in recorded human history that Chuck wasn’t immediately in front of a microphone and camera.