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View Full Version : U.S. Issues Do we rake your $ out?


wutamess
09-15-2008, 08:08 AM
I usually consider myself financially savvy on certain things but this one I'm more confused as anything.

Do we take our money out and put them in safety deposit boxes or something?

At what point should we start doing that?
I have my banking savings online (HSBC) and just wanted to know at what point should I worry?

HonestChieffan
09-15-2008, 08:09 AM
Relax...if you have cash, work with a pro and take advantage of opportunities, stay in quality stocks. Or if nervous, stay in cash. This will all work out faster than you may think.

banyon
09-15-2008, 08:13 AM
Relax...if you have cash, work with a pro and take advantage of opportunities, stay in quality stocks. Or if nervous, stay in cash. This will all work out faster than you may think.

http://i4.photobucket.com/albums/y150/MsDemmie/comical_ali.jpg

BigRedChief
09-15-2008, 09:30 AM
up to a $100K, no worries. If the government backing is no good then the $100K of paper is worthless anyway.

Cave Johnson
09-15-2008, 09:44 AM
As mentioned in the Lehman thread (and backed up by Stewie), the FDIC doesn't have enough reserves to cover expected bank failures. Which doesn't really matter from an individual standpoint, b/c the government would have to print more money in order to avoid a financial meltdown.

Personally, I have my money in Washington Mutual. They're being mentioned as a bankruptcy candidate and the stock is below $3. So, I'm looking for a new bank.

Friendo
09-15-2008, 09:55 AM
http://i4.photobucket.com/albums/y150/MsDemmie/comical_ali.jpg


ROFLROFL

cookster50
09-15-2008, 09:58 AM
up to a $100K, no worries. If the government backing is no good then the $100K of paper is worthless anyway.

QFT

wutamess
09-15-2008, 10:01 AM
QFT

So which is it?
No worries or QFT?

RINGLEADER
09-15-2008, 10:04 AM
up to a $100K, no worries. If the government backing is no good then the $100K of paper is worthless anyway.

Exactly.

But get a real accountant. I don't know that you should get your financial advice from a football BBS.

Garcia Bronco
09-15-2008, 10:40 AM
As mentioned in the Lehman thread (and backed up by Stewie), the FDIC doesn't have enough reserves to cover expected bank failures. Which doesn't really matter from an individual standpoint, b/c the government would have to print more money in order to avoid a financial meltdown.

Personally, I have my money in Washington Mutual. They're being mentioned as a bankruptcy candidate and the stock is below $3. So, I'm looking for a new bank.


US bank is good and Wells Fargo might not be bad. BOA is a good option as well. BB&T has a pretty good balance sheet as well.

Cave Johnson
09-15-2008, 11:49 AM
US bank is good and Wells Fargo might not be bad. BOA is a good option as well. BB&T has a pretty good balance sheet as well.

What about HSBC? I'm currently earning 3.75% with WaMu and HSBC's online savings rate is only .25% less.