The banking world continues to be in turmoil, making this a better time than ever to heed Clark's advice about not having uninsured money on deposit.

New data out today shows that IndyMac had $541 million of uninsured money on deposit at the time of failure. That's $541 million that went up in smoke -- and there's no way to get it back.

An organization called Highline Financial has ranked the strength of the 10 largest financial institutions on a scale from 0-99, from the worst to the best. Citigroup gets a 1; Wachovia gets a 6; and Bank of America gets a 17. These are ugly numbers. On the flip side, U.S. Bancorp and the Bank of New York Mellon score 81 and 71, respectively.

FDIC insurance is available on deposits up to $100,000 ($250,000 for retirement funds). But Clark advises people to only put money in up to $90,000. That way you don't forfeit a penny of interest in the event of a bank failure.

Beware if you think a revocable trust will expand your coverage beyond $100,000. As many IndyMac customers found out, a revocable trust that's been filed incorrectly will be void -- leaving you completely exposed.

So here's the bottom-line: Don't put more than $90,000 in a single bank. Split it up yourself among several banks or use the CDARS program -- especially if you're a non-profit or a business.