If you currently don't read a business publication...

Stavrose

Stavrose

Fried Yoda
Staff member
...you best pick up the wall street journal or financial times tomorrow. Hell, if dAily is too often for you then subscribe to the economist. The economy just got a whole lot more interesting today. We ain't seen nothin yet...
 
I took a phone call from a fellow lobbyist with the American Banker's Association today. When we ended the call I had no appetite for lunch.
 
Doesn't really matter unless you're an active trader. My 401(k) is still making good money, because it's nicely diversified.
 
I think it matters if you have bank accounts over $100,000 and your bank decides to go under.
 
Stavrose said:
I think it matters if you have bank accounts over $100,000 and your bank decides to go under.
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reek said:
You're joking, right?
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I didn't read to much into it so I could have taken it wrong. Accounts with less than $100,000 are pretty much safe for now but if your account has over $100,000 then you are only allowed to withdraw half of it, not the full amount. I don't know if it applies if you have several accounts which have a total sum greater than $100,000 though.
 
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ColdIce said:
I didn't read to much into it so I could have taken it wrong. Accounts with less than $100,000 are pretty much safe for now but if your account has over $100,000 then you are only allowed to withdraw half of it, not the full amount. I don't know if it applies if you have several accounts which have a total sum greater than $100,000 though.
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First, not a single person here has more than $100,000 in a single bank account.

Second, not a single person here has a bank account with a bank which is in danger of going under.

From The New York Times:
The nation’s banks are in far less danger than they were in the late 1980s and early 1990s, when more than 1,000 federally insured institutions went under during the savings-and-loan crisis. The debacle, the greatest collapse of American financial institutions since the Depression, prompted a government bailout that cost taxpayers about $125 billion.
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Cause, you know, Wanderhomies is a representative sample of the U.S. population lol.
I know a person on here that has an account larger than 100k. You're also assuming that everyone here has an account with a bank giant like Chase or BoA. Until you stop assuming that everyone here and in the world conforms to your perceptions of reality, then STFU.
 
What about family members? I bet most of the familys of wanderhomies have their pension plans tied up, and thats alot of money.
 
The fact is I am an active trader, I don't have investments in the stock market as big as I did but still well over $100,000. Just yesterday I bought 5,000 shares in the Royal Bank of Scotland.
 
Stavrose said:
Cause, you know, Wanderhomies is a representative sample of the U.S. population lol.
I know a person on here that has an account larger than 100k. You're also assuming that everyone here has an account with a bank giant like Chase or BoA. Until you stop assuming that everyone here and in the world conforms to your perceptions of reality, then STFU.
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How you don't have trouble crossing the street I will never know. You're right, Wanderhomies is not a representative sample. That's how I know there's no one here with more than $100,000 in cash just sitting in a bank account. There are very few people with that much cash laying around, and the younger people of Wanderhomies very likely ain't one of them. You say you know one of them? Bullshit. Unless it's you, in which case it wouldn't surprise me that you can't figure out wtf a t-bill is.

I am not assuming everyone has a giant bank. I am assuming anyone with more than $100,000 in cash laying around is not a complete fucking moron like yourself.

What's more, if you read a newspaper, you will see that although some banks may fail, it is less risky than it was in the Keating 5 scandal.
 
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Lol reek, go back to limiting yourself to conversations with your local pigeons cause they are the only ones who will listen to you
 
If you have been working for a little while and have been putting money away for retirement, you can certainly have more than 100k in a retirement account right now, be it 401k, 403a, or whatever. (Especially in accounts that are matched via a business/corporation, they are kept in a single account)

And some folks might even have said money without getting their funds from their family either. *winks at banana*

Anyways, I don't think saying "not a single person here has more than $100,000 in a single bank account" is that wise.


P.S. Just kidding banana, I have no idea how you got your money, just picking on you.
 
Fluffy said:
If you have been working for a little while and have been putting money away for retirement, you can certainly have more than 100k in a retirement account right now, be it 401k, 403a, or whatever. (Especially in accounts that are matched via a business/corporation, they are kept in a single account)
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Retirement accounts such as 401k's are not covered by the FDIC.
 
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