So, theres NO RECESSION, no DEPRESSION? OH YES THERE IS! - Page 2

Jerry · 07-15-08, 07:35 PM

Quote:

Originally Posted by Sergeant Stinger1

Heres the proof of the start:
In Pasedena today there is a run on the banks with people trying to get their money out but they can ONLY get up to $100,000 after that its ***FIFTY CENTS*** on the dollar and the F.D.I.C. says there are ***NINETY*** similar banks in this situation!!!
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People are panicking standing in long lines to get whatever they have in these banks OUT before they go under!!!
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HELLO

bush

,

HELLO RECESSION,

HELLO DEPRESSION!!!
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BYE BYE U.S.A.!!!

Some people believe that the looner missions were all faked, too. You are welcome to your belefs even when all evidence is to the contrery, but please take your ptsd medication before insiting that your beliefs are true, so as to deture further embaresing yourself.

Iriemon · 07-15-08, 07:36 PM

Quote:

Originally Posted by Jerry

Some people believe that the looner missions were all faked, too. You are welcome to your belefs even when all evidence is to the contrery, but please take your ptsd medication before insiting that your beliefs are true, so as to deture further embaresing yourself.

I believe the looner missions were real. Look at who we have in the White House.

Jerry · 07-15-08, 07:38 PM

Quote:

Originally Posted by Iriemon

I believe the looner missions were real. Look at who we have in the White House.

I thought Bush came from early genetic manipulation reserch gon horribly wrong. I stand corrected.

Bleeding Head Ken · 07-15-08, 07:47 PM

Quote:

Originally Posted by metreon

Moreover, how efficient is it to have a spam of account statements every month because you need five or more accounts to stay safe?

The FDIC insurance only covers $100,000 per depositor per bank. Your hypothetical depositor might have to work with several banks to be fully covered.

Sergeant Stinger1 · 07-15-08, 09:53 PM

Quote:

Originally Posted by MrFungus420

In other words, you don't know what a recession or a depression is.

Ignorance is a wonderful thing...

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Hummmmm, think again Mr Ignorant boy!

And when you learn something about the start of a Recession or a Depression get back to me.

Sergeant Stinger1 · 07-15-08, 10:02 PM

Quote:

Originally Posted by Jerry

I thought Bush came from early genetic manipulation reserch gon horribly wrong. I stand corrected.

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Jerry, i am amazed at how cool and polite you are and how you can see both sides in politics!
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You are the first poster here that I am awarding my Sergeant Stinger1 STAR award to!
Wear it well because you deserve it.
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Here it is: S.S.1 Star*

Sergeant Stinger1 · 07-15-08, 10:20 PM

Quote:

Originally Posted by rivrrat

Is there a sky in your world? Or has it already fallen?

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Nope, hasn't fallin yet anyway. Although my wife lost about 1 million dollars when ALL the Credit Banks went under here in R.I.
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I remember the advertisement of their insurer on TV 'the night before' ALL the Credit Banks went under. This was the ad:

We are carved in stone. As they showed their name engraved in stone along with a big chizzel and hammer.
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No biggy, my wife alone has more money than the whole town has here.
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BUT, if I go under i'll just borrow some money from her.

Sergeant Stinger1 · 07-15-08, 10:23 PM

Quote:

Originally Posted by Jerry

Some people believe that the looner missions were all faked, too. You are welcome to your belefs even when all evidence is to the contrery, but please take your ptsd medication before insiting that your beliefs are true, so as to deture further embaresing yourself.

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And just to think I gave you my FIRST S.S.1 Star award!

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Ah, your still ok in my book!

donsutherland1 · 07-15-08, 10:44 PM

Quote:

Originally Posted by metreon

Also, I want to clarify the FDIC insurance only covers $100,000 per customer within a particular bank, not per account. If you have more than $100,000 you have to distribute the surplus among several different banks, not just make several accounts within the same bank. Is it it realistic to expect that from people?

The rule is generally $100,000 per depositor per bank. Hence, if one is married, each spouse can have a separate $100,000 account and be covered. In addition, one may qualify for more than $100,000 in coverage at a given bank if one owns deposit accounts in different ownership categories e.g., a joint bank account.

The FDIC's explanation can be found at:
FDIC: Insuring Your Deposits

Finally, on a side note, the incentive to hold accounts at several banks on account of FDIC's rules is not a bad one. Diversification e.g., holding accounts at multiple banks, can reduce one's risk exposure.

metreon · 07-16-08, 12:47 PM

Quote:

Originally Posted by Bleeding Head Ken

The FDIC insurance only covers $100,000 per depositor per bank. Your hypothetical depositor might have to work with several banks to be fully covered.

Isn't that what I already stated? The spam of account statements would be from separate banks. There is a common misconception that FDIC insurance is applied per account, not per customer, at any one bank. Joint accounts between spouses (or qualified beneficiary) are covered up to $200,000 at one bank, however. Also qualified IRAs are covered up to $250,000. You can not keep all your eggs in one basket, and for the purposes of FDIC insurance, the basket is the bank, not individual accounts within that basket.