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11/20/2019 5:07:11 PM
Posted: 8/1/2009 10:25:57 AM EST
FDIC more or less is out of money to insure your deposit. Every Friday more bank failures. Here is the list of possible bank failures,

http://www.moneyandmarkets.com/files/documents/weak-institutions-sorted-by-total-assets-04-07-09.pdf


Here is the commercial begging people to keep their money in the bank.

http://www.youtube.com/watch?v=JhrCPhYk5m8
Link Posted: 8/1/2009 10:28:47 AM EST
USAA isn't on the list, I'm good
Link Posted: 8/1/2009 10:32:54 AM EST
In a local credit union, I GUESS they could be hurting , but they have always seemed pretty conservative in their lending practices, and never got into real estate lending
Link Posted: 8/1/2009 10:36:49 AM EST
Well, crap.

I guess that seals the deal, I am dropping my bank and going to the Evil Borg Bank (Chase).
Link Posted: 8/1/2009 10:39:29 AM EST
tag for later
Link Posted: 8/1/2009 10:39:57 AM EST
Did not want to see Wells Fargo...
Link Posted: 8/1/2009 10:46:36 AM EST
The only money I keep in my Wachovia account is to pay the rent.

Everything else is at HSBC or in the vault at my bunker.
Link Posted: 8/1/2009 10:50:55 AM EST
Is there a bank not on the list?
Link Posted: 8/1/2009 10:55:46 AM EST

Originally Posted By DragoMuseveni:
The only money I keep in my Wachovia account is to pay the rent.

Everything else is at HSBC or in the vault at my bunker.

HSBC is fifth on the list
Link Posted: 8/1/2009 10:59:21 AM EST
[Last Edit: 8/1/2009 11:01:26 AM EST by CouncilOfDave]
My actual bank is not on the list. Local Credit Union for the County I live in. They just started building a new branch, and they are pretty tight on who they loan money to (members only, etc).

However I have to check on Tower Bank in Ft. Wayne, because I have a Health Savings Plan through work with that bank. I don't know if it's through that branch, if it's the only one, etc... there's about $1,900 in that account.

Edit - Fuck, same bank. I guess I need to do something about that.
Link Posted: 8/1/2009 11:00:00 AM EST

Originally Posted By Steve_in_Washington:
Is there a bank not on the list?

Capital One
Link Posted: 8/1/2009 11:05:34 AM EST
I did not see any from Maine.......whew.....
Link Posted: 8/1/2009 11:08:00 AM EST
Originally Posted By DragoMuseveni:
The only money I keep in my Wachovia account is to pay the rent.

Everything else is at HSBC or in the vault at my bunker.



And where might this be??????
Link Posted: 8/1/2009 11:13:05 AM EST
Whew! Our bank is not on the list....yet.
Link Posted: 8/1/2009 11:14:47 AM EST
Wow - somebody school me on this...

42 Pages - how would a list such as this have looked last fall?

Is this startling, concerning, or merely "interesting"?
Link Posted: 8/1/2009 11:16:10 AM EST
Originally Posted By Bugalaman:
USAA isn't on the list, I'm good


Same here.
Link Posted: 8/1/2009 11:16:51 AM EST
My bank is on the list and near the top.....[sound of footsteps and keys rattling as I run to the bank]
Link Posted: 8/1/2009 11:18:28 AM EST
Those aren't banks, they're just branches. Usually banks that have failing branches get bought out to another bank that then convert that failing branch into something different.
Link Posted: 8/1/2009 11:23:10 AM EST
Originally Posted By Bugalaman:
USAA isn't on the list, I'm good


Yep, I just started the process of moving my IRAs to them the other day.
Link Posted: 8/1/2009 11:23:54 AM EST
Not only is my bank on the list with a D- rating, but the bank president's message is a red "x"!

http://lnbok.com/aboutus.asp
Link Posted: 8/1/2009 11:28:47 AM EST
i deal with the local credit union
Link Posted: 8/1/2009 11:37:35 AM EST
PFCU
Link Posted: 8/1/2009 11:38:03 AM EST
[Last Edit: 8/1/2009 11:43:57 AM EST by francispaul]
THATS SO OLD ITS WORTHLESS. Aprils crash made many millionares IMO.F for 1 buck//(a bank)> FITB for 1 buck ETC>.......If youve watched and locked in the profits its made alot of people that had cash Wealthy!
Link Posted: 8/1/2009 11:40:34 AM EST

Originally Posted By N1Rampage:
Those aren't banks, they're just branches. Usually banks that have failing branches get bought out to another bank that then convert that failing branch into something different.

No, those are banks, unless you think that Citibank has a branch in Las Vegas with one trillion dollars.


Credit unions are not immune... mine has two stars of five according to BankRate

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx
Link Posted: 8/1/2009 11:40:41 AM EST
whats the big worry? the gov will just bail them out again with your tax dollars.
Link Posted: 8/1/2009 11:43:22 AM EST
Originally Posted By FTAggie:
Did not want to see Wells Fargo...


Wonderful. Thanks, I didn't want to have to go check the list...

Rob
Link Posted: 8/1/2009 11:44:31 AM EST
My bank's not on the list, but I don't keep more than two month's expenses at the bank. It would suck to lose it, but wouldn't sink me.
Link Posted: 8/1/2009 12:18:36 PM EST
The list is the "TheStreet.com" opinion for investment purposes. It is not a list of banks on the verge of failing.

http://www.thestreet.com/story/10506002/2/eighty-nine-us-banks-thrifts-lack-capital.html

Link Posted: 8/1/2009 12:20:19 PM EST
Originally Posted By Steve_in_Washington:
Is there a bank not on the list?


Mine isn't. Credit union FTW.
Link Posted: 8/1/2009 12:28:10 PM EST
My locally owned bank gets 4 stars out of 5 possible, for a "sound" rating.
Link Posted: 8/1/2009 12:33:34 PM EST
Eh, I haven't used or filled up my account in forever.

I don't trust them anymore.
Link Posted: 8/1/2009 12:37:03 PM EST
Originally Posted By NoHarmNoFAL:
Well, crap.

I guess that seals the deal, I am dropping my bank and going to the Evil Borg Bank (Chase).


I've always used Chase and have never had any complaints.
Link Posted: 8/1/2009 12:39:00 PM EST
TDBank isn't on there, I'm good.
Link Posted: 8/1/2009 12:40:44 PM EST
Link Posted: 8/1/2009 12:52:51 PM EST
Originally Posted By DragoMuseveni:
The only money I keep in my Wachovia account is to pay the rent.

Everything else is at HSBC or in the vault at my bunker.


Did you know...
<cut from HSBC web page:>

The HSBC Group has an international pedigree which is unique. Many of its principal companies opened for business over a century ago and they have a history which is rich in variety and achievement. The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between China and Europe.
Link Posted: 8/1/2009 12:53:40 PM EST
Originally Posted By FTAggie:
Did not want to see Wells Fargo...


Only to a particular city that a bank is not doing well. I didn't see a Wells fargo in MN that was on the list.
Link Posted: 8/2/2009 11:00:17 AM EST
[Last Edit: 8/2/2009 11:01:35 AM EST by LGK]
The FDIC has 13 billion in the bank with an additional 500 billion credit line by congress. Let me stress 500 billion credit line, it's not in bank and congress can cancel it anytime.

Corus and Guaranty Bank is on the chopping block for over a month. Closing down Guaranty will cost the FDIC at least 11 billion. Closing down Corus will cost much more.

The bank stress test that was done a few months ago is a joke. Banks are in a worst shape then the were in 08. Large amount of US banks are begging the FDIC to take them over.

http://market-ticker.denninger.net/archives/1283-Is-The-FDIC-Broke-And-Covering-It-Up.html
Link Posted: 8/2/2009 1:05:22 PM EST

Originally Posted By RickNC:
Credit union FTW.

+1

Link Posted: 8/2/2009 1:19:39 PM EST
Originally Posted By LGK:
The FDIC has 13 billion in the bank with an additional 500 billion credit line by congress. Let me stress 500 billion credit line, it's not in bank and congress can cancel it anytime.

Corus and Guaranty Bank is on the chopping block for over a month. Closing down Guaranty will cost the FDIC at least 11 billion. Closing down Corus will cost much more.

The bank stress test that was done a few months ago is a joke. Banks are in a worst shape then the were in 08. Large amount of US banks are begging the FDIC to take them over.

http://market-ticker.denninger.net/archives/1283-Is-The-FDIC-Broke-And-Covering-It-Up.html


You forgot Colonial.

It is bigger than Corus and Guaranty put together.
Link Posted: 8/2/2009 1:21:09 PM EST
8 grand in my credit union, 2 grand in my bills/ammo funding account.
Link Posted: 8/2/2009 1:23:38 PM EST
Originally Posted By Bugalaman:
USAA isn't on the list, I'm good


Gotta love it.
Link Posted: 8/2/2009 1:25:36 PM EST
My bank is, with a "D".
Link Posted: 8/2/2009 1:57:58 PM EST
Originally Posted By Cyclic240B:
Whew! Our bank is not on the list....yet.

Yeah, no kidding.....
Link Posted: 8/2/2009 2:51:00 PM EST
I don't even care. I don't have any money anyways.

Link Posted: 8/3/2009 2:10:57 PM EST
Originally Posted By CletusRoundbelly:
Originally Posted By LGK:
The FDIC has 13 billion in the bank with an additional 500 billion credit line by congress. Let me stress 500 billion credit line, it's not in bank and congress can cancel it anytime.

Corus and Guaranty Bank is on the chopping block for over a month. Closing down Guaranty will cost the FDIC at least 11 billion. Closing down Corus will cost much more.

The bank stress test that was done a few months ago is a joke. Banks are in a worst shape then the were in 08. Large amount of US banks are begging the FDIC to take them over.

http://market-ticker.denninger.net/archives/1283-Is-The-FDIC-Broke-And-Covering-It-Up.html


You forgot Colonial.

It is bigger than Corus and Guaranty put together.


What do you know, the fed raided Colonial bank. FDIC has no choice but to take it in.

http://market-ticker.denninger.net/archives/1286-FLASH-FBI-RAID!-Colonial-Bank-Building,-Orlando.html
Link Posted: 8/3/2009 2:31:28 PM EST
Mine isn't on there. But I've got a loan threw citibank. So I wonder what would happen if they went under? I'd just end up owing someone else. Oh well.
Link Posted: 8/3/2009 2:57:04 PM EST
[Last Edit: 8/3/2009 3:00:07 PM EST by LGK]
Most loans are actually own by more then one bank. If one bank fail the others will have the option to buy the debt at a reduce cost.
Link Posted: 8/3/2009 3:04:59 PM EST
[Last Edit: 8/3/2009 3:08:14 PM EST by Tekka]
Do what I did before this stuff with the economy kicked into high gear... Move your money out of the country till things get better.
Link Posted: 8/3/2009 3:13:22 PM EST
Originally Posted By Texaspyro21:

Originally Posted By Steve_in_Washington:
Is there a bank not on the list?

Capital One


Maybe not, but Capital One just bought out Chevy Chase bank, which is on the first page with a D-.
Link Posted: 8/4/2009 2:22:23 PM EST
Get your money out of the banks said Karl. Even with the 500 billion credit line (which the FDIC don't have it in the bank), if there is a domino effect on bank failures you might not be able to get your money out for some time.

http://market-ticker.denninger.net/archives/1292-Warning-Related-To-The-FDIC.html
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