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Author Topic: Bank failure  (Read 4547 times)

Offline Paul56

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Bank failure
« on: July 16, 2008, 10:18:28 AM »
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...
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Offline Marz

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Re: Bank failure
« Reply #1 on: July 16, 2008, 10:23:14 AM »
I heard that Washington Mutual is cued up to bite the dust, is that the bank you speak of?

Thats pretty damn scary.
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Offline Timmay

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Re: Bank failure
« Reply #2 on: July 16, 2008, 10:27:25 AM »
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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BALDANDRE

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Re: Bank failure
« Reply #3 on: July 16, 2008, 10:30:09 AM »
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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Offline Tyler

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Re: Bank failure
« Reply #4 on: July 16, 2008, 11:25:04 AM »
What bank in CA?
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Offline schro

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Re: Bank failure
« Reply #5 on: July 16, 2008, 11:32:18 AM »
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Agonizing over what cannot be is an insult to what is.

Offline tomgallagher

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Re: Bank failure
« Reply #6 on: July 16, 2008, 12:11:41 PM »
Self induced mass hysteria
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BALDANDRE

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Re: Bank failure
« Reply #7 on: July 16, 2008, 12:16:14 PM »
Quote from: TomGallagher on July 16, 2008, 12:11:41 PM
Self induced mass hysteria

Without a doubt....that's why one just needs to take a step back before panicking!
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Offline MagmaBabe

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Re: Bank failure
« Reply #8 on: July 16, 2008, 12:29:15 PM »
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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Offline schro

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Re: Bank failure
« Reply #9 on: July 16, 2008, 12:32:46 PM »
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.
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Agonizing over what cannot be is an insult to what is.

BALDANDRE

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Re: Bank failure
« Reply #10 on: July 16, 2008, 12:35:45 PM »
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!
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Offline tomgallagher

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Re: Bank failure
« Reply #11 on: July 16, 2008, 12:48:57 PM »
Quote from: MagmaBabe on July 16, 2008, 12:29:15 PM
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.
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Offline tomgallagher

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Re: Bank failure
« Reply #12 on: July 16, 2008, 12:51:35 PM »
Oh ge
Quote from: schro on July 16, 2008, 12:32:46 PM
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.
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Offline Stu

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Re: Bank failure
« Reply #13 on: July 16, 2008, 01:04:58 PM »
Quote from: schro on July 16, 2008, 12:32:46 PM
Sorry I got political there

Not any more so than injecting 'REAGAN DEPRESSION' as a comment -- give me a friggin break!
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Offline Mikekoz13

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Re: Bank failure
« Reply #14 on: July 16, 2008, 02:49:48 PM »
Quote from: TomGallagher on July 16, 2008, 12:11:41 PM
Self induced mass hysteria

I agree Tom.........
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