One could read too much into Bernanke's statement of "the FDIC was founded in 1934, and we have insured deposits and they are very proud of the fact that no one has ever lost a dime in insured deposits."

With the end of the Transaction Account Guarantee program (TAG) deposit insurance on business checking accounts has gone from unlimited to $250,000. Anything over that is not FDIC insured. My bank, and others, have joined up in a system that participates deposits in excess of $250,000 to other member banks to essentially give our clients unlimited FDIC insurance, up to roughly $20 million. While we don't have many participants at this time, that list is growing.

This has been a concern of a number of our clients over the past 6 years of so when the first rumblings of this turmoil started to be felt.