Self-help guide for consumers

WASHINGTON (Reuters) - Even one collapsing bank is one too many. The takeover by federal regulators of IndyMac Bank -- the fifth to fail this year -- was unsettling for savers and investors. And the Federal Deposit Insurance Corp. has close to 100 other banks on its watch list. FDIC head Sheila Bair has moved to reassure consumers that she doesn't see further failures of banks as large as IndyMac -- the ninth biggest U.S. mortgage lender. But not all consumers are comforted. The recent earnings reports from big banks aren't helping: Wachovia lost $8.86 billion in one quarter. It could cost taxpayers as much as $25 billion to stabilize Freddie Mac and Fannie Mae. When Citicorp reported that it only lost $2.5 billion in the same quarter, Wall Street took that as a good sign. Sheesh. Homeowners, savers and investors shouldn't... [read full story]