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Bank failure by Paul56 on 16 Jul, 2008 10:18
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One major bank failed in California. The lines of people outside the bank were heart breaking. The federal people who were supposed to help depositors access their "insured" accounts acted more like FEMA did after Hurricane Katrina. yeeesh!!
Rather than wait for my bank to drop I went down & closed out my accounts yesterday. I took a bath on a CD, but a dollar in hand is worth 2 in the FDIC bush.
My father was a kid during the Depression (the 30s one- not the Reagan Depression of the 80s) and told me stories about bank failures. Guess what, folks: the 30s are BAaack... -
#1 by Marz on 16 Jul, 2008 10:23
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I heard that Washington Mutual is cued up to bite the dust, is that the bank you speak of?
Thats pretty damn scary. -
#2 by Timmay on 16 Jul, 2008 10:27
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But the gov't says we are doing OK...bullcrap. Economy sucks right now. I just have a feeling things are preparing to get worse.
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#3 by BALDANDRE on 16 Jul, 2008 10:30
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Yea..pretty scary times...
funny how now it's back to real estate being more a sure thing..
if you own and aren't in debt...you have a roof over your head!
With all that said...you gotta keep a level head bro's ...things turn around...
just don't put all your eggs in one basket or panick...
and that should help ease any kind of blow...
hopefully, eh?
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#4 by Tyler on 16 Jul, 2008 11:25
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What bank in CA?
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#5 by schro on 16 Jul, 2008 11:32
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#6 by tomgallagher on 16 Jul, 2008 12:11
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Self induced mass hysteria
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#7 by BALDANDRE on 16 Jul, 2008 12:16
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Self induced mass hysteria
Without a doubt....that's why one just needs to take a step back before panicking! -
#8 by MagmaBabe on 16 Jul, 2008 12:29
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we had all that drama here a little while back... with Northern Rock.
Ya aint the only one's feeling the pinch!
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#9 by schro on 16 Jul, 2008 12:32
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A big problem with our bank system is the Federal Reserve Commission. It's very easy for them to ask for more $$$ without regulation.
There's a lot of oversight committees, commissions, and task groups our government could do without!
Sorry I got political there, but in these times, we need less government, not more.
OK, I feel better now. -
#10 by BALDANDRE on 16 Jul, 2008 12:35
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Yea...makes this man's bald head spin...
and to figure with that going on the stock market went up a lot today?!
That's why you diversify! -
#11 by tomgallagher on 16 Jul, 2008 12:48
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we had all that drama here a little while back... with Northern Rock.
Ya aint the only one's feeling the pinch!
I hear ya luv. You Brits are getting hammered also. -
#12 by tomgallagher on 16 Jul, 2008 12:51
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Oh ge
A big problem with our bank system is the Federal Reserve Commission. It's very easy for them to ask for more $$$ without regulation.
There's a lot of oversight committees, commissions, and task groups our government could do without!
Sorry I got political there, but in these times, we need less government, not more.
OK, I feel better now.
Oh geez now ya started it...LOL. No I agree. A lotta fat there. I know where we could find a fast 120 BILLION a year. -
#13 by Stu on 16 Jul, 2008 13:04
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Sorry I got political there
Not any more so than injecting 'REAGAN DEPRESSION' as a comment -- give me a friggin break! -
#14 by Mikekoz13 on 16 Jul, 2008 14:49