A billion here, a billion there, and pretty soon you're talking real money.
Note the FDIC only has approx. $53 Billion to back almost $4-5 Trillion in deposits, and Chuck Schumer's IndyMac charlie foxtrot already cost $4-8 Billion.
This new event adds almost three quarters of a billion.
To: rabscuttle385
Okay, two more down. Getting to be a Friday night tradition.
2 posted on
07/25/2008 7:46:47 PM PDT by
LikeLight
(http://www.believersguidetolegalissues.com)
To: rabscuttle385
Makes me wonder if my bank goes under, will there BE any money left for the FDIC to bail out the depositors.
My guess, somewhere along the way, the answer will be NO, because they WILL run out of money. There just isn’t enough to cover all those “not marked to market” credit swaps the banks are holding.
3 posted on
07/25/2008 7:51:35 PM PDT by
TruthConquers
(Delendae sunt publici scholae)
To: rabscuttle385
Is anybody wondering about Bank of America? They bought out Countrywide, Lasalle Mortgage and is on the hock for billions of off the books guarantees to companies that invest in mortgages...
5 posted on
07/25/2008 7:54:20 PM PDT by
John123
(Obambi said that he has been in 57 states. I will now light myself on fire...)
To: TigerLikesRooster
FYI, two more banks bit the dust after market closing.
8 posted on
07/25/2008 8:01:29 PM PDT by
rabscuttle385
("When you can't make them see the light, make them feel the heat." Ronald Reagan)
To: rabscuttle385
Affirmative Action Lending [aka Community Reinvestment Act]: the gift that keeps on giving!
Thank you Libtards!!
To: rabscuttle385
“A billion here, a billion there, and pretty soon you’re talking real money.”
Everett Dirksen fan club.
17 posted on
07/25/2008 8:27:22 PM PDT by
Pelham
(Press 1 for English)
To: milford421
19 posted on
07/25/2008 8:30:47 PM PDT by
nw_arizona_granny
( http://www.freerepublic.com/focus/chat/1990507/posts?page=451 SURVIVAL, RECIPES, GARDENS, & INFO)
To: rabscuttle385
Is that “Mutual of Omaha” the Insurance company as the new owner? It seems everyone has a bank, today... Even Charles Schwab!!!
23 posted on
07/25/2008 9:18:10 PM PDT by
SierraWasp
(I'm not against the environment, just GovernMental EnvironMentalism!!! (our new state religion))
To: rabscuttle385
Everybody owns at least one bank because Chris Dodd worked to rescind the Glass-Steagal act. One of the best safeguards since the “Bank Holiday” of the FDR era!!!
24 posted on
07/25/2008 9:19:54 PM PDT by
SierraWasp
(I'm not against the environment, just GovernMental EnvironMentalism!!! (our new state religion))
To: rabscuttle385
**First National Bank of Nevada and First Heritage Bank NA of California.**
Hey, Harry Reid, did you have money in either of those banks? LOL!
How about you Pelosi? Is the First Heritage Bank of CA your bank? LOL!
Double whammy.
35 posted on
07/25/2008 10:24:07 PM PDT by
Salvation
(†With God all things are possible.†)
To: rabscuttle385
I went to cash on all of my retirement accounts last December, but just got back into the market today - in Gold and Siver ETF's.
The US dollar is continuing to fall and more bank failures are on the horizon.
As someone mentioned earlier, once a large holder of derivatives goes under then things will really start to get interesting.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson