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Should I pull my money out of the bank?
    #8635018 -

http://finance.yahoo.com/banking-budgeting/article/105391/Analysts-Say-More-Banks-Will-Fail

answer..discuss


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Re: Should I pull my money out of the bank? [Re: LayYouIn]
    #8635040 -

Unless you have more than $100,000 in any given FDIC insured account, your money will be fine.  Do not suggest people should pull their money out, as heightened fear can cause a run on the bank that may cause it to fail.  Even if the bank fails naturally, the government will back all FDIC insured accounts for up to $100,000.  The most recent IndyMac failure only kept people away from their money over the weekend, and has since reopened as IndyMac Federal bank, with no change to the way customers use their checks/atm cards/etc.  The only problem is if you held more than $100K in your account, for which they are offering $0.50 on the dollar for any value over $100,000, with the potential of increased return as the federal government auctions off IndyMac's assets.

Brokerage/investment accounts are covered under the SIPC, which will make sure that you don't lose your assets, however any returned assets (stocks/bonds/etc) are to be returned in base quantity and not value... so price fluctuation in those assets may end up costing you money if you cannot get them returned in a timely fashion.  The SIPC coverage also covers up to $100,000 of cash in any brokerage account.  Retirement accounts are protected up to $250,000.


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Re: Should I pull my money out of the bank? [Re: geokills]
    #8635051 -

Luckily I keep all of my assets in the form of chocolate gold coins. After the stock market fails, and chocolate prices skyrocket Ill be set for life.


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The Prophecy!

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Re: Should I pull my money out of the bank? [Re: LayYouIn]
    #8635223 -

Nothing left to discuss, Geo nailed it.


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Those who would give up a little freedom to get a little security shall soon have neither.
-Benjamin Franklin

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Re: Should I pull my money out of the bank? [Re: Legend9123]
    #8635233 -

i would say you should probably disguise your money as rocks.  leave it in the bank, but as rocks. best of both worlds.


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The body binds us to worldy vices. Its disregard will lead to salvation.

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Re: Should I pull my money out of the bank? [Re: blewmeanie]
    #8635260 -

blewmeanie said:
Luckily I keep all of my assets in the form of chocolate gold coins. After the stock market fails, and chocolate prices skyrocket Ill be set for life.


:ilold:

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Re: Should I pull my money out of the bank? [Re: Legend9123]
    #8635262 -

depends on how your money is tied to the banks, I held 85k shares
of pioneer bank, they merged with other banks 2 times in a year,
no amsouth being the final merger, stock prices plumeted, but with
the split there was a break even point, this was also at the time
banking in the US started it's decline...

http://seekingalpha.com/article/49061-banco-bradesco-gateway-to-brazilian-growth


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California Has Legalized Child Prostitution

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