tag:blogger.com,1999:blog-20377909.post6306400770567820906..comments2024-02-26T08:05:58.174-08:00Comments on ECONOMICROT: FDIC: Getting Ready for the WorstRandyhttp://www.blogger.com/profile/09221346085089343469noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-20377909.post-17822263232205593312014-03-27T22:33:34.990-07:002014-03-27T22:33:34.990-07:00The worst is yet to come.The worst is yet to come.PENNY STOCK INVESTMENTShttp://www.manhattancalumet.comnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-27842436976447234762013-01-11T12:39:02.441-08:002013-01-11T12:39:02.441-08:00Who knows what the furture holds.Who knows what the furture holds.QUALITY STOCKS UNDER 4 DOLLARShttp://www.mysheriff.net/profile/finance/alsip/930503601/noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-18672544071690201172008-09-01T18:57:00.000-07:002008-09-01T18:57:00.000-07:00...Of everything that stands, the end,I'll never l......Of everything that stands, the end,<BR/>I'll never look into your eyes, again, <BR/>so he took down the ancient mask and he walked on down the hall, and he went into the room where the Democrats and Republicans were and he ....walked on down the hall.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-48305145513121762992008-09-01T18:55:00.000-07:002008-09-01T18:55:00.000-07:00Yo, Jobuck!Get your money out of that bank, now!Do...Yo, Jobuck!<BR/>Get your money out of that bank, now!<BR/>Don't wait until its too late. It wont matter<BR/>what percentage you get if they go out of <BR/>business. Any bank doing that (offering more) is doing so due to desperation. Take your money out. I did. Buy yourself some silver bars, some gold/silver mining stock, and watch gold and silver take off!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-82381070344548867202008-08-31T08:38:00.000-07:002008-08-31T08:38:00.000-07:00jobuck,I'd be very cautious these days about where...jobuck,<BR/><BR/>I'd be very cautious these days about where you put your money. An additional 1% is meaningless if you take a 50% haircut in the end!<BR/><BR/>As I understand it, money market accounts are absolutely not insured in any way.<BR/><BR/>Brokerage accounts might be backed by the SIPC.<BR/><BR/>Normal bank accounts, of course, are backed by the FDIC up to $100,000 PER PERSON, not per account. If you have more than that you should distribute your money among several banks to keep the amount below $100,000 in any one bank. I cannot imagine that the government will let anyone lose money in the $100,000 category. That would instigate an immediate nationwide run on the banking system.<BR/><BR/>Finally, banks offer higher rates to lure customers. The more desperate the bank, the higher their offer will be. So beware!<BR/><BR/>I have a pretty good track record for selecting banks that fail. I had an account with the online NetBank, which was shut down last year. My remaining account is with WaMu, and I'm expecting it will be shut down soon enough! It disappoints me to see these banks go under because I had accounts with them for nearly a decade and they were always good to me. It seems that as the good ones go under we're left with the scummy ones to deal with.<BR/><BR/>DaveAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-64781393210334931912008-08-29T23:51:00.000-07:002008-08-29T23:51:00.000-07:00This is the end, my only friend the end.If the 5% ...<B>This is the end, my only friend the end.</B><BR/><BR/>If the 5% rate Wamu is offering on CDs isn't indication enough that there's trouble brewing, the fact that Wamu is promoting it with a hand drawn white board sign certainly clinches it.<BR/><BR/>Photo taken at corner of Hualapai and Charleston Blvd, Las Vegas, Nevada.<BR/><BR/>http://lastnightinvegas.blogspot.com/2008/08/this-is-end-my-only-friend-end.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-45558009647979635422008-08-29T22:46:00.000-07:002008-08-29T22:46:00.000-07:00This is the the beginning of the in-your-face rece...This is the the beginning of the in-your-face recession. This is like Neil Young's song, Powderfinger. It is sung by a young guy seeing a gun boat coming up the river. He sees it pointed at him and knows he is about to take his last breath. He is singing about his life as it quickly races before his eyes. "look out mama, there's a white boat comin' up the river...And when the first shot hit the docks I saw it comin'."<BR/><BR/>This week's news is that first shot that this backwood's kid is seein' comin' at him.<BR/><BR/>Declining incomes, failing consumer news, bank failures, Fannie uh falling flat, FDIC needing more cash (this is why Bush wants a timetable in Iraq. The burning up of $12 billion per month needs to be used for FDIC.), and the DOW gearing up for a slide under the 11,000 net, Weaker employment numbers will also factor in the mix. And, don't forget foreclosures.<BR/><BR/>Xmas is 17 weeks away. It will not be looking too pretty by then. Although, who am I to say. I really don't have a crystal ball. All I've got is a handful of tea leaves.<BR/><BR/>The purchasing of CD's through on-line banking may cause one to be waiting for an FDIC check for a long time when that troubled bank locks its doors from the inside. I am not sure that money markets are insured.<BR/><BR/>If you want a CD, look locally for a bank that has not sold subprimes. Many banks will remain solvent, although in need of cash. <BR/><BR/>I have gold Troy's, but remember, you cannot go into the pharmacy and cash it in when times are tough and your ounce is worth over $1000. One will need to find a dealer/buyer who has the cash to take it off your hands, for a price, in order to flip it. We should all be skeptical about getting the market value for a Troy when times will get real tough. It is only worth as much as what a buyer will give you. That's the market place for ya. It may not be that easy to get one's meds, mouthwash, and milk in a timely manner with your Troy. Cash will be king one way or another.<BR/><BR/>As Justin so beautifully stated, this national, as well as global, unfolding is like watching a real-time thriller peel away its layers right before one's eyes.<BR/><BR/>Once again, I am burning the Pittsburgh midnight oil reading and writing on this great blogspot.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-23769418572211155102008-08-29T19:06:00.000-07:002008-08-29T19:06:00.000-07:00Guess what kids, it's Friday night! And you know ...Guess what kids, it's Friday night! And you know what that means. That's right..... another <A HREF="http://www.reuters.com/article/marketsNews/idUSN2948252620080829" REL="nofollow">BANK FAILURE</A><BR/><BR/>And you gotta love the name of this one: Integrity Bank!FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-66965413850895977162008-08-29T16:03:00.000-07:002008-08-29T16:03:00.000-07:00GOLD and SILVER in physical form are 100% safe.For...GOLD and SILVER in physical form are 100% safe.<BR/><BR/>Forget the rest.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-48577396715378612772008-08-29T15:42:00.000-07:002008-08-29T15:42:00.000-07:00I called my bank the other day to prevent a CD fro...I called my bank the other day to prevent a CD from rolling over. They asked why? I said, I can get a better rate from an online savings bank with 100% liquidity and no minimums. In response, they said they would boost my savings account (with them) rate 1% above whatever their normal rate would be for six months; effectively making the rate higher than my online savings bank. When was the last time you heard of a bank doing that? Can anybody comment on the relative SAFETY of money in a discount brokers cash/money market account vs a banks. Brokers have depositor insurance like FDIC but it's not exactly the same.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-35717659459408378972008-08-29T13:33:00.000-07:002008-08-29T13:33:00.000-07:00This is truly the perfect storm.This is truly the perfect storm.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.com