I like earning AA miles with my BankDirect acct.

Two questions:

1) Is there a way around the 100K FDIC limit? My understanding is the limit is applied PER DEPOSITOR, not PER ACCOUNT. So joint accounts usually will not work. How about a trust account? Can it be set up easily (i.e., without lawyers)?

2) If answer to #1 is no, what is the real risk of going over the limit? How effectively can I research the bank's likelihood of going belly up? Back in the S&L days (80's), some Chicken Little prognosticators were claiming that even FDIC insurance might not protect against widespread bank failures.

I really want to earn a ton o' AA miles -- at least until I'm lifetime Plat. I'm hoping there's a solution here because it's the easiest way I know to earn 10K's of miles per month.

Please don't try to talk me into trading miles for actual interest, 'cause "there ain't none here". I like miles.

~BK