All this bank trouble talk can be scary.  Wachovia is one of the larger banks down here in South Florida and happens to be my bank.  I've been hearing for a while now that they might be the next one 'in trouble'.  WaMu was just sold to JP Morgan so now eyes are on Wachovia.  The best thing to happen is a merger since it will be 'business as usual' to us customers.  The only down side is that one more large bank will be gobbled up. 

I got to thinking.  Isn't that what banks do...buy each other up?  For years this has been the practice.  Think back 10-15 years...are you still banking with the same exact bank?  Not the same building...but the same name?  At one time I opened an account with NCNB and they were bought by Nationsbank.  That was back in 1992.  Nationsbank later was bought by Bank of America.  Bank of America also gobbled up Barnett Bank if you recall.  My First Union bank was gobbled up by Wachovia a few years ago too.

Another point is that I haven't seen too many bank mergers or buyouts while the real estate bubble was growing.  I guess it's because they were all too busy giving money to anyone that walked through the door.  I'm starting to think they all knew this would be happening once the bubble burst.  Only the larger/smarter banks would survive.  Is this really that different than the mergers/buy outs of the past?  In a way it isn't.  Some seem to be working out without 'bailout' money from the government. 

Bottom line is to know where you have your money.  Keep tabs on your bank and watch for signs of trouble and be prepared.  If you can, have 2 checking accounts in different banks.  Many banks have the 'free' checking accounts that can be opened on line and don't' require a minimum.  This can be a backup account just 'in case' something happens.  You don't have to panic, just be smart and think ahead.