What is the safest bank to open CD account?

Considering financial crisis in U.S. what is the best and safest bank to open CD?? I was thinking about opening CD in ING Direct, but is it safe enough? What bank would you recommend?
What is the safest bank to open CD account?
As far as safety, they are equally good, equally bad.





Which brings me to suggest, WHY BOTHER?





Are you really letting them have your money one year for only 5% or less?





Can you afford to not have your money if the bank fails? Or are you sure you're never going to withdraw early (which will cost you penalties)?





Keep your money in a FREE checking account, no fees, no interest, no penalties. It's just as safe as a CD or savings, plus you can withdraw anytime.





ALSO, if you want money to be 24/7 accessible no risk , keep some cash in the house, YES, SERIOUSLY. You just might need it on a special day and don't let that be a day you can't make it to the bank or the week the bank fails.





IF you have money to put away for a year or so and never touch, consider buying some precious metals. Gold bars or silver coins are easy ways to hold your money, they APPRECIATE if inflation and demand goes up. I've been in this for over 4 years, and my money appreciates at least 20% a year consistently, even in panics like today, the short term depreciation is nothing compare to the long term appreciation I've made. Guess what? I'm not complaining about rising gas costs either.
Reply:Dude you would be earning a negative real yield when you factor in the CPI at 4.9%. If you have a CD rate locked in at


4% you are actually seeing a .9% loss of purchasing power. Absolutely Terrible.






Reply:bearrr is correct. any FDIC insured bank will cover you for up to $100,000. I have used ING for 2 years with no problems. Their CD rates are very competitive.
Reply:Any is fine. As long as it is FDIC insured, you are covered up to $100,000.
Reply:Any is fine. You want the highest yield for your money.