This is what a 'bank run' looks like...

From the article--

"I have $360,000 in this bank, and I was misled by this bank," said Robert Clark, a Glendale resident who was waiting on line. "I gave the names of my mother, my sister and my brother on the account so I thought I would be insured. I don't know what to do. I really don't know what to do."
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"I was misled by this bank". Is this guy f-ing kidding? How much more clear can the FDIC guidelines possibly be?

The mortgage company misled me, the realtor misled me, the bank misled me, the broker misled me, etc.


Why can't people take responsibility for anything anymore???
 
Quote from Landis82:

Leave it to Bush #1 and Congress to have changed the FDIC's ability to intervene BEFORE a bank gets into "trouble" as they did countless times back in 1990 during the S&L crisis under Bill Seidman.

They absurdly passed a law in 1991 that no longer allowed the FDIC to get involved ( and match up poorly performing banks with healthy institutions ) until AFTER the entity had a run on it and closed its doors.

How freaking stupid can these elected leaders of ours be???
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It's not just stupidity, it's unbridled greed. Most of our "elected leaders" are plutocrats: they think democracy is just a crock to placate the masses, and their real allegiance is to rich sociopaths who planned to drain this nation like the vampires they are. Every bit of the New Deal that was designed to help ALL Americans is being systematically dismantled, in the name of "free markets" of course. Capitalism without regulation is no better than communism, or anarchy for that matter.
 
Quote from kut2k2:

It's not just stupidity, it's unbridled greed. Most of our "elected leaders" are plutocrats: they think democracy is just a crock to placate the masses, and their real allegiance is to rich sociopaths who planned to drain this nation like the vampires they are. Every bit of the New Deal that was designed to help ALL Americans is being systematically dismantled, in the name of "free markets" of course. Capitalism without regulation is no better than communism, or anarchy for that matter.
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the de-regulation and resulting bubble also allowed many people to live large for many years. it's only bad now, but no one was complaining 2 years ago when people were buying nice cars, watches, clothes, homes, plasmas, and taking nice vacations.

i personally like the boom-bust cycle. during times like these, you can get a great deal on luxury items. i just bought a f430 a month ago. exotic cars are depreciating harder than a miami condo.

did you miss out and are now bitter?
 
even ferraris are dropping?

has it gotten to the point where you can walk into a ferrari dealer, and buy new with no waiting list, and pay sticker or less?
 
Quote from Clubber Lang:

From the article--

"I have $360,000 in this bank, and I was misled by this bank," said Robert Clark, a Glendale resident who was waiting on line. "I gave the names of my mother, my sister and my brother on the account so I thought I would be insured. I don't know what to do. I really don't know what to do."
--------------------------------------------------------------

"I was misled by this bank". Is this guy f-ing kidding? How much more clear can the FDIC guidelines possibly be?

The mortgage company misled me, the realtor misled me, the bank misled me, the broker misled me, etc.


Why can't people take responsibility for anything anymore???
More...

It don't matter how many names are on an account. It's one account. FDIC insured for $100k.

Mislead? ha. Over the last ten years, I was told "I did not have sexual relations with that women", "Iraq has weapons of mass destruction", "Mission Accomplished", "Bear Sterns is adequately capitalized", "the housing market is stablizing".

Who the hell do you sue first? If you know who the last american idol is, and who won the last survivor, but don't know who your state senators are. Sue yourself!!!
 
Quote from bdon:

It don't matter how many names are on an account. It's one account. FDIC insured for $100k.

Mislead? ha. Over the last ten years, I was told "I did not have sexual relations with that women", "Iraq has weapons of mass destruction", "Mission Accomplished", "Bear Sterns is adequately capitalized", "the housing market is stablizing".

Who the hell do you sue first? If you know who the last american idol is, and who won the last survivor, but don't know who your state senators are. Sue yourself!!!
More...

Haha
 
Quote from bdon:

It don't matter how many names are on an account. It's one account. FDIC insured for $100k.
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so the key is that you need multiple social security numbers, one per account?

that will get you FDIC insurance, 100%?

gotta say im kind of confused myself

I have a business banking account, with 6 sub accounts, each account has close to $100k in them (just by chance), but all 6 are in my business' name.

So i guess only one of them is insured to 100k?
 
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