L.A. Times business section reports that Downey Savings and Loan has succeeded in staunching a recent outflow of deposits.  Evidently the run on Downey Savings deposits started after the IndyMac takeover in July with depositors wanting to make sure they have their funds accessible.

Sucks to be me.  I have some CDs in Downey Savings that won’t mature for a couple of months.  I’m sure they’ll be fine, and they’re under the limit for insured savings so it really isn’t a major concern.  We did move some money from Downey back in May under the theory that you shouldn’t have too much money in any one bank at any one time.

Which slowly gets us around to the point of this post.  This is an O.K. time to consider where your money is, whether it’s fully insured and how easy it will be to obtain access to your money.  A better time would have been months ago, but it’s better to think about it now, rather than wait until there’s a problem.  It’s inevitable that more institutions will suffer distress and possibly failure, so taking a little time to move eggs into different baskets will be time well spent.