FDIC Going Broke - Bank Run Time?

Saries · 08-22-2009, 03:44 PM

Big banks still hold FDIC captive

Quote:

Yet even Colonial and Guaranty are large enough to give the FDIC indigestion.

Its deposit insurance fund had just $13 billion as of March 31. The 56 failures since then will cost it an estimated $16 billion, including nearly $3 billion for Colonial. (That amount excludes Guaranty – the FDIC should provide an estimate for those losses later today.)

It’s an unsettling thought if you have money in a bank. Officially, FDIC backs $4.8 trillion worth of deposits. If you include “temporarily” insured deposits, the total is $6.3 trillion. Yet the insurance fund protecting these deposits is going broke.

Time to move the money offshore

ryanrule · 08-22-2009, 06:24 PM

go yell "BOMB" in an airport.

n8rsk8r · 08-22-2009, 07:59 PM

dude FDIC banks have been closing for a while now. Was one a couple weeks ago. Crazy. It amazes me that they can take a HUUUUUUUUUUUUUUUUUGE chunk of money, and by the time it gets to where it is supposed to go for "help" it then becomes such a percentage of the real amount borrowed.. fucking bullshit.

Saries · 08-25-2009, 10:02 PM

Quote:

Originally Posted by n8rsk8r

dude FDIC banks have been closing for a while now. Was one a couple weeks ago. Crazy. It amazes me that they can take a HUUUUUUUUUUUUUUUUUGE chunk of money, and by the time it gets to where it is supposed to go for "help" it then becomes such a percentage of the real amount borrowed.. fucking bullshit.

Taking taxpayer money to save failed banks, who then lend back taxpayer money 'at interest' is already criminal... what's worse, they're not lending it out, they're just sitting on it to pad their black hole balance sheets.

pinski · 09-14-2009, 07:59 PM

Quote:

Originally Posted by Saries

Taking taxpayer money to save failed banks, who then lend back taxpayer money 'at interest' is already criminal... what's worse, they're not lending it out, they're just sitting on it to pad their black hole balance sheets.

The lousy banks are... the good banks have already paid it back, with interest to the gubment. But, those are the banks that didn't want it in the first place, but were strong-armed by the Feds to take it, regardless.

**Rowbarre** · 09-14-2009, 10:20 PM

The bank I work for didn't take any bailout money.

ryanrule · 09-15-2009, 12:36 AM

Quote:

Originally Posted by pinski

The lousy banks are... the good banks have already paid it back, with interest to the gubment. But, those are the banks that didn't want it in the first place, but were strong-armed by the Feds to take it, regardless.

there are plenty of banks that didnt take it all.

**madmatt** · 09-15-2009, 04:18 AM

If shit hits the fan enough to tap out the FDIC and everyone tries to get their money, its not going to matter HOW MUCH of your money gets in your hands, it will all be worthless anyway...

you should have been trading cash for gold a couple months ago anyway. Bricks of it...

**FreeBird** · 09-15-2009, 06:45 AM

i dont have enough cash to trade for "bricks" of gold.. nuggets maybe

Credit union's FTW!!! mine only loans money they has

and took/needed 0 of the bailout monies

B00STED4V · 09-15-2009, 08:25 AM

I should've brought a shotgun for this.

**FreeBird** · 09-15-2009, 08:39 AM

one with a chainsaw attachment...

B00STED4V · 09-15-2009, 08:44 AM

...maybe

**FreeBird** · 09-15-2009, 08:52 AM

or rocket launcher?

Hey charlie joo has one of them right?

pinski · 09-22-2009, 07:37 PM

Quote:

Originally Posted by ryanrule

there are plenty of banks that didnt take it all.

Plenty of little ones that the Fed didn't care about. The Fed didn't want to distinguish the large banks that were in good shape from those in bad shape, thus creating a run on the weaker ones' deposits, a la Wachovia.

Had TARP come out days sooner, Wachovia could've been saved.

n8rsk8r · 09-22-2009, 08:01 PM

wasn't it that they pushed the money on banks and all because the money was supposed to be paid back with interest? I was under the impression that was the case. Also with the money that was "given" to states and governments local and state level.. alot of states and govs say fuck you.. we don't want your money..

08-22-2009, 06:24 PM	#2
ryanrule change my ct Join Date: Sep 2004 Location: Madison. Go boobies. Posts: 5,686	go yell "BOMB" in an airport. __________________ You think you're hot shit in a champagne glass, but you're really cold diarrhea in a Dixie cup!

08-22-2009, 07:59 PM	#3
n8rsk8r i <3 whalepenis Billards Champion! Join Date: Feb 2006 Location: TwiLight zOne!! Posts: 18,093	dude FDIC banks have been closing for a while now. Was one a couple weeks ago. Crazy. It amazes me that they can take a HUUUUUUUUUUUUUUUUUGE chunk of money, and by the time it gets to where it is supposed to go for "help" it then becomes such a percentage of the real amount borrowed.. fucking bullshit. __________________

09-14-2009, 10:20 PM	#6
Rowbarre Doesn't give blow jobs, and that's a good thing! Join Date: Aug 2005 Location: Lawrence, Kansas Posts: 3,705	The bank I work for didn't take any bailout money. __________________

09-15-2009, 08:25 AM	#10
B00STED4V Caution: Pees Everywhere When Drunk Yeti Sports 1- Long Shot Version Champion! Join Date: Dec 2005 Location: The TROP and RAYJAY! Posts: 27,142	I should've brought a shotgun for this. __________________ Tampa Bay Buccaneers Tampa Bay Lightning Tampa Bay Rays

09-15-2009, 08:44 AM	#12
B00STED4V Caution: Pees Everywhere When Drunk Yeti Sports 1- Long Shot Version Champion! Join Date: Dec 2005 Location: The TROP and RAYJAY! Posts: 27,142	...maybe __________________ Tampa Bay Buccaneers Tampa Bay Lightning Tampa Bay Rays

09-22-2009, 08:01 PM	#15
n8rsk8r i <3 whalepenis Billards Champion! Join Date: Feb 2006 Location: TwiLight zOne!! Posts: 18,093	wasn't it that they pushed the money on banks and all because the money was supposed to be paid back with interest? I was under the impression that was the case. Also with the money that was "given" to states and governments local and state level.. alot of states and govs say fuck you.. we don't want your money.. __________________

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