FDIC may be getting ready for a large bank failure. | |
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stl lunatik
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No more doom User ID: 368208 Brazil 02/05/2008 07:12 AM Report Abusive Post Report Copyright Violation | Of $109 million in uninsured deposits at NetBank, nearly 30% has not yet been reimbursed. Of $14 million in uninsured funds at Miami Valley, only 5.9% of uninsured funds, so far, has been reimbursed. All deposits in the most recent failure -- Douglass National Bank, Kansas City, Mo. -- have been reimbursed. These deposits were uninsured, FDIC only guarantees $100k per depositor per institution. Previously the FSLIC failed and "the ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government." courtesy of [link to en.wikipedia.org] The government will never let the banking system fail, worst case if the FDIC goes bankrupt the government will back the deposits up to the FDIC limit and tax payers will pay for it. Point of the story is safest place for you money is in the banks where you at least get interest to offset inflation. |
GREY LENSMAN User ID: 98619 Malaysia 02/05/2008 08:56 AM Report Abusive Post Report Copyright Violation | |
Eagle # 1 User ID: 366021 United States 02/05/2008 10:23 AM Report Abusive Post Report Copyright Violation | they get to USE YOUR money at 9 to 1 lend out rate, while you, the SUCKER, get to watch that FIAT DEPRECIATE at 12-14 percent a YEAR ! WHAT could be DUMBER ? What could be SMARTER ? Buying gold/silver, and watching it 'appear' to appreciate about 30% a year ! At least your retaing it's VALUE at the time of the purchase of gold/silver. Eagle |
Kat Mama
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