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Don't have a clue but,,,,,, |
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desertjoe
Orange Level Access Joined: 23 Sep 2013 Location: New mexico Points: 13528 |
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Posted: 13 Mar 2023 at 6:06am |
The federal government has taken over another bank in New York just yesterday morning,,,,I already went and withdrew my $875.32 and buried em out back,,,,!! Something BIG is fixin to happen,,,SO tread lightly big investers,,,,,,?
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steve(ill)
Orange Level Access Joined: 11 Sep 2009 Location: illinois Points: 80372 |
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almost every bank in the US is GUARANTEED to cover you for $250,000. of DEPOSITS by the FDIC..... that is a fact that dont change..... The ones getting the SCREWING are the ones that had millions INVESTED in the bank, not the DEPOSITORS..
Your $875.32 is safe... you could even add $5. and still be OK !!
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Like them all, but love the "B"s.
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Lars(wi)
Orange Level Access Joined: 14 Sep 2009 Location: Permian Basin Points: 7106 |
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Heard several news sites, President Biden claims FDIC will cover ‘above and beyond’ the guarantee limit, that no taxpayer monies will be involved. Please explain how that will be achieved?
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I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science.
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steve(ill)
Orange Level Access Joined: 11 Sep 2009 Location: illinois Points: 80372 |
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it wont.. Taxpayers WILL PAY for any lost money for DEPOSITORS above the $250K mark... Directly or indirectly.... Kind of like doubling the TAX for Business... where do you think the BUSINESS will get the extra money to pay their taxes ???
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Like them all, but love the "B"s.
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jaybmiller
Orange Level Access Joined: 12 Sep 2009 Location: Greensville,Ont Points: 22291 |
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smoke and mirrors ?? what I find 'humorous' are the teckytypes in SiliconValleyBank that LOST their money. You'ld think if you can program a computer ,you'ld KNOW to split your money into lots of 200K accounts, so you get back 100% of your money.
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
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steve(ill)
Orange Level Access Joined: 11 Sep 2009 Location: illinois Points: 80372 |
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The problem is these were not DEPOSITORS putting money in the bank for the 1-2% interest , or a checking account... These were people INVESTING in the bank, putting in MILLIONS hoping to get 20% BACK on their INVESTMENT..... Just like the stock market or bonds... it goes up or down and you can get SCREWED or make a killing... we dont owe THEM anything... luck of the draw.
If your a DEPOSITOR, your covered. --------------- The investor knows about the risk he is taking when investing in a bank whereas depositors only want to have a place for saving money and beating the inflation.Nov 14, 2019 Edited by steve(ill) - 13 Mar 2023 at 9:46am |
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Like them all, but love the "B"s.
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DMiller
Orange Level Access Joined: 14 Sep 2009 Location: Hermann, Mo Points: 30780 |
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And Ol Joe's mouth overloads his Capabilities. HAS TO BE LEGISLATED to do what he wants to do, and as such is incorporated into the FDIC where he has NO SAY in the matter. CANNOT Exec Order or request or any other preposterous BS, is Just ANOTHER Lie to try to stop bank runs, good luck with that.
Edited by DMiller - 13 Mar 2023 at 9:57am |
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Ray54
Orange Level Access Joined: 22 Nov 2009 Location: Paso Robles, Ca Points: 4482 |
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Now now Dmiller you don't have faith in O'l most dead and gone Joe? Why he is always braging about what a stand up guy he is. I was a figuring he would share from that 10% for the BIG GUY............................ well at least after pigs fly.
I sure hope O'l Frugal Joe changed that paper money stuff to silver or gold ...............and you used real good Mason jars. Some days being so poor has advantages, I don't have go dig any holes and worry how far back from the dang old creek and such.
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200Tom1
Orange Level Joined: 03 Jun 2019 Location: Iowa Points: 1201 |
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I was just reading this AM about Bonnie and Clyde robbing a bank in Stuart Iowa and burying the money in Dallas County Iowa north of Dexter. This was in 1933, money hasn't been found. I wonder if this is a similar situation. Money won't ever be found.
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DMiller
Orange Level Access Joined: 14 Sep 2009 Location: Hermann, Mo Points: 30780 |
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Most of these 'Lost Funds' are Crypto, evaporated in the click of a mouse button. What is most disconcerting is these Banks are not Typical Housing or even Business Lenders, they are out there as 'Investment Banks', Buy into THEIR Ideology as to Financial trading and make Interest as they use YOUR money much as large Corporations do with Stocks, just classified differently. Are NO protections for Stocks, Shares or any other Investment methodology, why should THESE be bailed out? The current program is they are lent MORE Money with a defined Interest rate to return, to bail them out where can fail even harder and take US Federal Funds, OUR FUNDS with them next time.
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Les Kerf
Orange Level Joined: 08 May 2020 Location: Idaho Points: 752 |
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Well...er...ummm....maybe, kinda sorta. That's the MAXIMUM they will pay out. In reality you will probably only get a percentage of what you lost. You could always sue them for the difference I suppose |
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Morgangon
Bronze Level Joined: 19 Feb 2024 Location: Montreal Points: 1 |
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It's refreshing to see proactive measures in the financial sector, even amidst unsettling news of another bank takeover in New York. Taking control of one's finances, like withdrawing savings for peace of mind, is a prudent step in uncertain times. This scenario underscores the importance of being vigilant and making informed decisions. For those looking to diversify or safeguard their investments, platforms like videforex offer a compelling alternative, providing a secure and innovative trading experience. It's crucial for big investors and everyday savers alike to stay informed and consider all options. Remember, every challenge presents an opportunity to adapt and thrive. Edited by Morgangon - 22 Feb 2024 at 4:11am |
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DMiller
Orange Level Access Joined: 14 Sep 2009 Location: Hermann, Mo Points: 30780 |
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A ex co-worker involved in such a debacle lost 40% of his $52,000 in savings deposits as FDIC does only pay a percentage and that Up to 250,000.
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