Lincoln Savings and <i> Caveat Emptor</i>

Although I intend to recover losses I have incurred from the closure of Lincoln Savings, I must point out that in my experience, American Continental debentures were never represented as being federally insured.

Granted, whenever I came into a Lincoln branch I would practically fall over the huge ads for these debentures, and they were heavily advertised in all the bank statements I received. But I saw nothing that said customers would be buying a CD. In fact, when I called the bank and inquired, I was told plainly what the offering was.

The Lincoln story sounds to me like a hard sell with a little deception, a little greed and a lot of confusion.

When it comes to insured deposits, banks pay the going rate--maybe up to half a point more for long terms or jumbo amounts.

But when the yield is two points more than the competition, “let the buyer beware.”

RENATA B. MULRY

Carlsbad