Sunday, September 21, 2008

Avoid local news for coverage of financial markets

I was watching NewsChannel 5's 10 p.m. newscast Friday and heard the male anchor lead into a story about the financial bailout of Wall Street with the following -- is your checking account safe?

I couldn't believe it. No one's checking account in a bank is at risk. You are insured up to $100,000 by the Federal Deposit Insurance Corp. If you have more than $100,000 in a checking account, you're a fool. But I know you don't.

So be careful when watching local news and anything about the financial bailout. The talent there is not trained in covering financial and economic issues. Watch CNBC or click on for reliable news and an accurate perspective.

Don't watch local news or you'll end up worrying about nothing.

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