So the FDIC insures accounts up to $100,000.00 - right?

So, lets say Joe Blough wins 25 mil in the lotto and puts it in a savings account, bank gets robbed (electronically or physically) and the 25 mil is gone. Joe Blough is now out $24,900,000.00 right?

Lets say Joe Blough takes that same 25 mil and opens 250 savings accounts with 100k in each account, and has the interest from each account placed in account #251 - would ALL of his money be safe?

If Joe is dumb enough to put $25 million into savings accounts earning 1%, then he deserves to lose everything if the bank fails.  That much cash should go into to 90 day t-bills.

Also, the FDIC only covers bank failures, not theft.  If the bank got robbed somehow, the bank's insurance would cover all losses.

 I remember reading a blurb in the business section a while back that some banks have mutual agreements with other banks to somehow layoff large deposits with each other to get around the $100K limit . (Sort of like a bookie does with bets)

Sorry, I can't recall the term or the details.  

If you title the accounts differnetly you can get 100k per account.  Husband, Wife, husband & Wife.  3 accounts, 3 100k limits.

I remember reading somewhere that if you sink like a million dollars into an account, you would have to purchase your own private insurance to cover any losses if there's a run on the bank.