Banks die too fast for regulators (BANK RUNS???)

Wall Street Journal ^ | 1/23/09 | Staff

[Chickensoup]

I have my little bit of money at TD Banknorth and have been told since it is a Canadian bank it is immune to the problems here in the US. I cannot find any information about its trustworthyness or solidity. At least not on the net

[JDoutrider]

Mattress

Gun safe!

[gondramB]

>>The problem is that the notional value of the worthless assets of any given one of todays institutional failures is equal to the entire value of failures of the S&L crisis... <<

OK, that’s kind of scary...

[blam]

[familyop]

...misleading headline with even more misleading editorial comment. Everyone knows about the big investment banks that already failed.

Go ahead, though. Scaring others with baseless implications that local deposit banks are failing will help to end the trade imbalance regime and clear the way for more domestic manufacturing. Bring on the panics and defaults.

[AvOrdVet]

Thanks, I’ll have to work on that! kinda disconcerting chart though...

[AvOrdVet]

Scaring others with baseless implications that local deposit banks are failing will help to end the trade imbalance regime and clear the way for more domestic manufacturing. Bring on the panics and defaults.

If don't acknowledge it or haven't seen it coming and prepared... hold on tight for the ride!

[AvOrdVet]

Scaring others with baseless implications that local deposit banks are failing will help to end the trade imbalance regime and clear the way for more domestic manufacturing. Bring on the panics and defaults.

If you don't acknowledge it or haven't seen it coming and prepared... hold on tight for the ride!

[AvOrdVet]

My first double post.... My Bad ;-(

[Golddigger3]

...misleading headline with even more misleading editorial comment. Everyone knows about the big investment banks that already failed.

The article was about the entire banking system, including local and regional banks. All bank levels are receiving bailout money and are failing.

[darth]

I had the experience of briefing an aerospace industry COO who had 60,000 people working for him and a salary of $20M/year. Every 15 minutes he made a decision that could make or lose millions for the company. If he made a lot of wise decisons, he was well worth it. One of his decisions resulted in the company earning an EXTRA $1.5B in profit on a bomber that we brought in ahead of schedule and under budget.

[dennisw]

Good ETN info.....
I would be wary of ETFs too especially gold and silver ETFs. No way do they physically control the amount of gold that corresponds to what investors have put into those funds. They have paper claims on physical gold

[Eighth Square]

Amen to that!

[Golddigger3]

No way do they physically control the amount of gold that corresponds to what investors have put into those funds.

I see articles lauding the GLD ETF for always keeping almost 100% of the gold represented by the stock. Why do you doubt them?

[tubebender]

I am 75 and must withdraw funds from my IRAs so I took $4,000 in CASH out of one at a large west coast bank on Tuesday and then I went to another bank that could be in trouble and took $4,500 out of a MMA. Told them both I was going on a antiques buying trip. I am thinking about making space in a building and buying large quantities of non-perishable food for later barter and to feed my family. This may not work for those of you in the freezer belt as you don't want it to freeze canned goods. I have no faith in the FDIC.

Now if I can keep First Wife from finding it and investing it at one of the Casinos..

[familyop]

"The article was about the entire banking system, including local and regional banks. All bank levels are receiving bailout money and are failing."

That's not true of many smaller deposit banks. But you can try to scare savings/capital accounts out of them, if you like.

I'm all for it, because small projects with local capital will continue. Prospects for overseas shipping loans will dry up. The dollar must fall, and freight fuel prices will continue to rise soon (likelihood of wars and re. Asia's stronger manufacturing and demand balances despite propaganda to the contrary).

Global imbalances have needed correction from the beginning of the big folly. The Ponzi schemes at various levels of it could only go on for a definite time.

[dragnet2]

Many are to the point where they could care less about the banksters.

It’s so bad, many people are now hoping someone steals their identity, so the crooks can assume their debt.

[PAR35]

since it is a Canadian bank it is immune to the problems here in the US

Sounds like someone hasn't been candid with your.

They are scrambling to raise capital as well.

"Equity - Two Canadian banks sought to boost their capital reserves once more Thursday, issuing new preferred equity offerings"
http://www.canada.com/calgaryherald/news/calgarybusiness/story.html?id=09de84d9-d2e2-4e76-b06c-52c1a3d7b707

The Canadian government is also looking at setting up a bank bailout plan.

[jacquej]

Remember to check those rates against my bank’s.

I use Mattress Savings and Loan.

[familyop]

"If you don't acknowledge it or haven't seen it coming and prepared... hold on tight for the ride!"

...a place over 100 miles from the nearest city, and it's off the grid. :-) Here's more information.

Manufactured scarcity The profits of deindustrialisation
http://www.freerepublic.com/focus/news/2122661/posts

See "Club of Rome," "Club for Growth" and other constituent groups behind the trend.