Posted on 09/22/2009 7:25:17 AM PDT by SeekAndFind
Yes but as I said I am seeing small banks locally eat up other small banks. When this ends then we will only have ONE or two banks left. Probably ONE and it will be the perfectly solvent WORLD Bank.
Good question.
One that needs discussed.
Who here does online banking?
Who pays there bills online?
How do you pay all your bills in cash nowadays?
There is a list somewhere online of a list of banks near failure.
If your money is in one of these switch banks.
Basically that has already occured. Goldman Sachs and JPMorgan Chase says “jump” and the government asks “how high?”
Me.
I pay all of my bills online through BoA. Surely THEY’RE not going under anytime soon.
Right?
This is the Failed Bank List,,,
If you look around on that site you mite find more info...
Thanks. I think I have the list at home and will let you know this evening.
The only thing they will NOT consider is this --- DECREASE SPENDING.Yep. It won't end until the whole thing collapses. Look at California - dead broke and the Democrats there are still resisting spending cuts.
One that needs discussed.
Who here does online banking?
Who pays there bills online?
How do you pay all your bills in cash nowadays?
_________________________________
I see my debit card transactions via online statements.
I don’t pay bills online.
I write checks for a few bills.
Thanks. I noticed customers were given no warning before a bank closed.
I picked a random bank that closed to read up on it to better grasp how this works.
http://www.fdic.gov/news/news/press/2009/pr09095.html
In this case: Did the FDIC back this bank or did the bank that acquired it? or both? Did the FDIC back the monies and the First Bank just gave it a home, or the other way around?
There is another list somewhere of banks pending closing.
Anyone have that link?
Re: post # 71 I see now that FDIC did not back the bank. Another bank bought the failed bank -accept for brokers monies- and ate losses.
BOE is good.
I meant BOA
Quite welcome,,,
From you’re link :
“Cooperative Bank, Wilmington, North Carolina was closed today by the North Carolina Office of Commissioner of Banks, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Bank, Troy, North Carolina, to assume all of the deposits of Cooperative Bank, except those from brokers.”
Looks like First Bank bought it,,,
FDIC arranged the sale...
There is no good scenerios involved:
1) The FDIC is trying to boost its reserves, but the large bailed out financials that used the current crisis to grow bigger and seize more control of the US economy aren’t going to help. They will hide behind their “systemically important” status and continue to demand bailouts from all the trillions in fraud they committed.
2) Thus that means the healthy small regional banks across the US that made the mistake of managing their risk well and didn’t speculate on toxic waste investments are going to be told to bend over and take one for the team. Special FDIC “assesments” will hit their bottom line meaning job losses, customers and the small businesses they service will have less access to credit, and lending rates will have to be increased.
3) FDIC gets the 500 billion open check from Congress which is still very much on the plate. Again, the large financials that helped wreck the US economy are off the hook. Only positive is that the smaller regional financials won’t have to bend over and take one for team this time. But the US taxpayer will.
Sheila Bair showed her true colors when she colluded with Jamie Dimon of JPMorgan Chase to seize Wamus assets as part of the JPMC bailout. The FDIC has completely 180’d from their mandates. I wouldn’t trust her to be a town dogcatcher, let alone, running the FDIC.
Yes, and then provide your address to interested parties. ;)
Thanks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.