Coming soon to an ad near you: “Our gift cards insured by the FDIC”

The Federal Deposit Insurance Corp., the entity that guarantees bank deposits, has issued an opinion stating that funds on gift cards and other stored value cards qualify as deposits and will be covered under FDIC insurance if those funds have been placed at an insured depository institution.

bankrupt-wheelI’d love to file this under “You know it’s gotten bad when …” but we’re too far past that. Wonder who will be the first retailer to plug this into its ads? “The latest in worry-free shopping: You can put up to $250K on a gift card! Guaranteed by the FDIC even if we bite the dust!”

Oy.

This entry was posted on Tuesday, November 18th, 2008 at 11:24 am and is filed under Bankruptcy, Depression, FDIC, Gift cards, Marketing, Recession, Recession? What recession?. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Coming soon to an ad near you: “Our gift cards insured by the FDIC””

  1. What is the technical definition of “depression”? Says:
    November 20, 2008 at 10:02 am

    [...] guest post from Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing, business and his [...]

  2. Bryant Keefe Says:
    November 21, 2008 at 8:30 am

    The more creative retailer may use this link to lay claim to TARP funds.

  3. collateraldamage Says:
    November 21, 2008 at 8:52 am

    I like it!

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