One of the nations larger banks has just failed. Had to dig to find info on this one. Indymac is now under FDIC protection. So keep your eyes peeled out there I'm sure more are to follow in the coming months / years.
The sky IS falling
As I may have mentioned before FDIC only covers the first $100,000 of deposits. If you should be lucky enough to have more than that in a bank your SOL. The other thing is that 100K is for all deposits no matter how many banks you deal with. The last issue is that FDIC can hold out on paying for weeks or months.