Jeffrey Sachs

Socking away your money in a bank account leaves many investors queasy -- and for good reason. Personal loss resulting from bank failures has affected too many Americans. According to Tom Pieplow, associate professor of management at Athens State University, in Athens, Ala., keeping your money safe is a matter of choosing bank accounts backed by the Federal Deposit Insurance Corp. and diversifying. He also suggests that, as a society, future generations will be better off financially if children learn about economics, the government's role in consumer investing and how to make good money decisions.Given widespread concern about bank failures, what suggestions can you give an individual when placing his or her money in a bank?Consumers should make their financial decisions using objective data versus simply relying upon marketing information. In terms of a bank's viability, I firmly believe the FDIC offers the best resource to protect consumers through their supervision of financial ins...

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