netbank goes under due to mortgage defaults

Quote from Allen3:

Do you contend that this bank is only FDIC insured up to 100 million in deposits or are you just a stupid F#*k!

JIM:confused:
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no, you would be the stupid fuck. "m"= 1,000, "mm"= 1 million. my post said 100m. i operated under the assumption that on a financial related site, people knew what "m" meant.

the point was that i cannot believe that people would keep over (here, i will help you out this time) $100,000 in an account at a troubled bank and that $109mm out of $2.5B (oh, better clarify, the "B" means "billion" not burritos, and the "$" means "dollars") in deposits is an incredible number.

sorry for the somewhat harsh rebuttal, but the guy was way too quick @ calling me a "stupid F#*k".
 
Quote from jamis359:

Do you really think the safety and soundness of a bank is related to its size?
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pretty much. the fed would not let a bank like that fail pretty much no matter what. they would drop the discount window to zero if they had to
 
Quote from gangof4:

"m"= 1,000, "mm"= 1 million. my post said 100m. i operated under the assumption that on a financial related site, people knew what "m" meant.
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100k, not 100m? I use 100m to mean 100 million and 100k to mean 100 thousand.
 
Quote from gangof4:

no, you would be the stupid fuck. "m"= 1,000, "mm"= 1 million. my post said 100m. i operated under the assumption that on a financial related site, people knew what "m" meant.

the point was that i cannot believe that people would keep over (here, i will help you out this time) $100,000 in an account at a troubled bank and that $109mm out of $2.5B (oh, better clarify, the "B" means "billion" not burritos, and the "$" means "dollars") in deposits is an incredible number.

sorry for the somewhat harsh rebuttal, but the guy was way too quick @ calling me a "stupid F#*k".
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who uses roman numerals like M for a thousand in the current circumstances.
a check of a list of acronyms will show that m is used for millions or as a thousand in roman numerical style.
your harsh rebuttal should never have been written.
 
I use credit unions not banks and because our accounts are joint accounts they are insured up to 200k. I believe this would be the case at bank as well.

Knowing that your institution is in bad health isn't the easy thing to find out. My local credit union folded and I didn't find out until 1 year later, thanks. I always had access to my money as far as I know.
 
Quote from Trendytrader:

There are no safe Banks. Split your deposits over multiple banks to 100k or less to keep FDIC coverage.

Remember Barings Bank? Nobody stepped in saved them.
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Because it was in the UK. bernanke is a specialist on the great depression which started after a few banks failed and the money supply went down. he wont let it happen again
 
Quote from Trendytrader:

I thought Greenspan was a specialist too. What a pile of $%^ he left. Now he is pointing fingers 5 minutes out of the job.
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You must be illiterate.

Greenspan just gave a lengthy interview on Time cover story...
And basically says "bubbles cannot be stopped or controlled... only managed to some degree".

I would expect Greenspan to know more...
About the markets and human nature...
Than the 80,000 Pretenders at ET combined.
 
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