| Author |
 Topic  |
|
|
jpf231
Penny Collector Member
USA
340 Posts |
 Posted - 07/12/2008 : 07:04:20
|
Here we go - the bank collapses begin. This is from cnn.com - the business section.
Regulators seize troubled IndyMac
Feds take over mortgage lender IndyMac. FDIC will seek buyer. May become most expensive bank collapse ever.
You must be logged in to see this link.
|
|
|
CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 07/12/2008 : 09:54:00
|
Ouch...
"According to the FDIC, 10,000 IndyMac customers could lose as much as $500 million in uninsured deposits."
"The failure could also affect premiums paid by all banks for deposit insurance, she added." - here come more fees for everyone
"When a bank shuts down, traditional bank accounts are insured to at least $100,000. Some accounts such as annuities and mutual funds are not insured at all. Individual Retirement Account funds are insured to $250,000."
"Customers with uninsured deposits will get at least half that money back, and they could get more back, depending on what the FDIC gets when it sells the bank, said Bair." -some people could lose a boatload from their savings vehicles...this is bad bad news
Unfortunately there are probably more to come...
|
My hobby: collecting real money 1 copper cent or nickel at a time.
|
 |
|
|
fb101
Administrator
USA
2856 Posts |
Posted - 07/12/2008 : 19:16:01
|
| A banker was telling me the other day that FDIC only has to actually pay 10 cents on the dollar for insured deposits, meaning that the 100K insurance might only return 10K. He handed me some pamphlets which I haven't had time to read yet.... |
 |
|
|
|
kavajava
Penny Collector Member
USA
490 Posts |
Posted - 07/12/2008 : 19:29:50
|
check out the ad the FDIC is running:
You must be logged in to see this link.
The comment from jsmineset.com is: "Note that the $100,000 bill is a Gold Certificate. That alone tells the entire story. Gold is the only insurance." |
|
|
| |
Topic |
|
Feds take over mortgage lender IndyMac
Forum Locked
