CDARS!
 

Got a bunch of money that you need to spread around to make sure it's all covered by FDIC? If you have more than $100,000 in any one bank, FDIC will not cover above that number.

CDARS lets you register for a system that will automatically spread whatever you're depositing (including CD's and mutual funds) through enough banks to keep the accounts under that limit. And it's free.

I've found many tax guys and investment professionals don't know about it, so I thought I'd share it.

Now go get rich ;)

Certificate of Deposit Account Registry Service

You're covered for $100,000 per account per account holder--not per bank. What counts is account ownership.

Where to Keep Cash When No Investment Seems Safe - NYTimes.com

I didn't know you could shield more then 100K at one bank, interesting.

Of course this only holds true if the FDIC doesn't run dry-

Federal bank insurance fund dwindling - Stocks & economy - MSNBC.com

If banks, big banks, continue to fall this could be an issues.