Some investors are hitting the panic button. Yaacov Teplow-Phipps, a New York landscaper, moved all his investments into cash on Friday. "There's too much uncertainty," he says. "It's pretty distressing." After Monday's grim news, Larry Coleman, a retired school administrator in Fayetteville, W. Va., began making plans to move his nest egg from stock mutual funds into a savings account that is insured by the Federal Deposit Insurance Corp. He says his son is planning to do the same thing.
"We're not rich folks," Mr. Coleman says. "When you see all of these banks going under, and the market in such disarray, it's a little bit frightening to think that these are the people handling your small amount of money."
"We're not rich folks," Mr. Coleman says. "When you see all of these banks going under, and the market in such disarray, it's a little bit frightening to think that these are the people handling your small amount of money."
