Even if an investment, whether money market account or CD, which is FDIC insured-- would you feel comfortable depositing your money in a bank, investment company, etc. that was recently written up in the newspaper as tapping into billions of a credit line to provide mortgage services?

If it's FDIC insured, why not?

because it can take months to collect?

That assumes the company will go bankrupt and will not pay off its depositors. While that's happened in the past, it isn't too common. And merely drawing an existing line of credit doesn't really increase the risk of it.

From what they say about Countrywide Financial, I wouldn't be surprised if they do go under...