Put it in Bank or In Business
By cecelgay
@cecelgay (563)
Philippines
March 6, 2009 3:23pm CST
Now that the whole world is facing financial crisis what do you prefer if you have a big amount of money.. Will you put it in bank or put it in business? If in bank why you choose bank over putting it in any business or if in business why you choose to put it in business?
2 responses
@gramadonna (16)
• United States
6 Mar 09
Recently the FDIC increased the limit from $100,000 to $250,000 insurance on bank savings so I would open multiple accounts in the smaller less risky banks and credit unions. I would shy away from business as the amount of disposable income in American households is diminishing quickly.
@TheManager24 (1302)
• Philippines
6 Mar 09
If I have a big lump sum amount of money, and considering the crisis, I would play it safe and utilize both. I will deposit an amount with a good bank or probably buy bongs or trust funds that are being supported by the government. I will be very careful playing in the stock market as current financials are highly volatile.
The rest of the amount will be with a feasible business. This way, I will have the opportunity to make the money grow and will be able to help fluid the economy by hiring few people and pay taxes.
Good day! 
