User Panel
Posted: 8/1/2009 11:25:57 AM EDT
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 |
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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
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Well, crap.
I guess that seals the deal, I am dropping my bank and going to the Evil Borg Bank (Chase). |
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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. |
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Quoted: 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 |
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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. |
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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?????? |
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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"? |
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My bank is on the list and near the top.....[sound of footsteps and keys rattling as I run to the bank]
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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.
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USAA isn't on the list, I'm good Yep, I just started the process of moving my IRAs to them the other day. |
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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 |
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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!
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Quoted: 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 |
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whats the big worry? the gov will just bail them out again with your tax dollars.
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Did not want to see Wells Fargo... Wonderful. Thanks, I didn't want to have to go check the list... Rob |
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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.
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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 |
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Is there a bank not on the list? Mine isn't. Credit union FTW. |
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My locally owned bank gets 4 stars out of 5 possible, for a "sound" rating.
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Eh, I haven't used or filled up my account in forever.
I don't trust them anymore. |
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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. |
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That is from April. You'd think there would be something more up to date. |
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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. |
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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. |
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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 |
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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. |
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8 grand in my credit union, 2 grand in my bills/ammo funding account.
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Whew! Our bank is not on the list....yet. Yeah, no kidding..... |
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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 |
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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.
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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.
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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.
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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-. |
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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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