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Pages: 1 Posted:  13 Feb 2009 01:09 Registered User Posts:  3842 Join Date: Aug 2007 __________________ But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles Posted:  13 Feb 2009 16:23 Administrator Currently Offline Posts:  4167 Join Date: Jul 2007 I'm definitely not for bailing out banks, but I do like the government guaranteeing person bank accounts up to 100 k or whatever it is now otherwise everybody will have to go back to putting money in their mattresses and that can be dangerous these days. I do hate even that much from government but like I said that would be very chaotic if your average guy couldn't feel safe putting his or her money into the bank. __________________ Lucas McCain the Rifleman: A man doesn't run from a fight, Mark...but that doesn't mean you should go running *to* one, either. Posted:  13 Feb 2009 20:40 Registered User Posts:  3842 Join Date: Aug 2007 I thought you wanted the government to stick to defense, police and roads? Guaranteeing your deposits is not in that order. You should also be aware that FDIC, in case of emergency, can't pay out what it promises either. It's like many other government programs-busted. __________________ But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles Posted:  13 Feb 2009 22:57 Administrator Currently Offline Posts:  4167 Join Date: Jul 2007 What do you mean they can't pay out what they promise? Have you heard of someone not getting their money back under the insured amount? After thinking about it. There is a way to solve the crisis of conscious perhaps I should support banks getting insured from insurance companies. Might not be quite as safe as the government but better than nothing. I just hate the thought of not having a safe place to save money. __________________ Lucas McCain the Rifleman: A man doesn't run from a fight, Mark...but that doesn't mean you should go running *to* one, either. Posted:  13 Feb 2009 23:17 Registered User Posts:  3842 Join Date: Aug 2007 Quote: Have you heard of someone not getting their money back under the insured amount? Not yet. Here's something for you to read and let me know your thoughts on. I'll get to why I said what I said after, but I'll give you the opportunity to pick up on it first. http://www.richdadeducationblog.com/2008/09/open_letter_to_bloomb ... __________________ But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles Posted:  14 Feb 2009 16:38 Administrator Currently Offline Posts:  4167 Join Date: Jul 2007 It says Quote: The fund is 100 percent industry-backed. Our ability to raise premiums essentially means that the capital of the entire banking industry – that's $1.3 trillion – is available for support. So that's cool. Quote: FDIC has longstanding lines of credit with the Treasury Department. Congress, understanding the need to ensure that working capital is available to the FDIC to provide bridge funding between the time a bank fails and when its assets are sold, provided broad authority for us to borrow from Treasury's Federal Financing Bank. Hmm. __________________ Lucas McCain the Rifleman: A man doesn't run from a fight, Mark...but that doesn't mean you should go running *to* one, either. Posted:  14 Feb 2009 16:59 Registered User Posts:  3842 Join Date: Aug 2007 Ya. We've got mention there of asking for a bailout and if that's not a red flag I don't know what is. As your quote points out, they have authority to borrow more from the Fed as well. Also keep in mind that a bank's assets(aside from office furniture and equipment) are the debts others owe it. The same debts that they were allowed to create out of thin air with the fractional reserve system. The best the FDIC can do is sell those debts to other investors, at a discount. Do we save the banks or no? Tough question. __________________ But the backdrops peel and the sets give way and the cast get eaten by the play, there's a murderer at the matinee, there are dead men in the aisles And the patrons and the actors too are uncertain if the show is through and with sidelong looks await their cue, but the frozen mask just smiles Pages: 1

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