Sounds ironic, but its a shame that it is actually happening in our current economy right now. IndyMac bank has actually gone bankrupt, thus many people will actually be losing money that they put in. I don’t really know what to tell you. You always hear about your bank being FDIC insured, but you never really think that it’s something that you’re really going to use. At least most people that had accounts with them will get their money back through the FDIC. But it’s really a shame that the people that had more than $100,000 in an account with IndyMac will actually be losing some of their money. I guess thats one lesson to take from this, if you’re sittin with a big chunk of cash, don’t keep it all in one bank, or better yet….leave some of it under your mattress at home.
Banks goin Bankrupt!!
July 15th, 2008 | Random
10 comments ↓
Dude, I know it. Scary stuff. On Good Morning America, the money experts said to put anything over $100,000 in a different bank. Yeah, it’s your money, until the bank goes bust. Good to be aware of….
I guess it proves you shouldn’t put all your eggs in 1 basket. Investment wise I wouldn’t just be leaving $100,000 in 1 bank, in this case you could definitely get a better return by investing elsewhere.
Its insane! I’m from Australia, and I’m hearing all this news. I just can’t that such a thing is happening in America. One of, or if not the richest country in the world.
lol, under the mattress - best have buried gold too.
it’s very sad for those affected. We have just had several finance companies go bankrupt.
I’m glad that I don’t have that much cash anywhere anyway. :p yeah… saving gold sounds like a good plan to survive inflation.
A local bank here was being harassed by the carpenters union. >.> Nothing surprises me.
I believe a good ole shoe works just fine. LOL.
Banks are scum anyway. I’d use a credit union if there were more ATM’s.
And for the economy…
If there were a total media blackout, and then a sole station came back on and said the economy is fantastic for 14 days straight, I think the problem would solve itself. Just like stocks, a lot of this is just emotionally driven.
And I didn’t mean to sound like I don’t care.. It really, really, really sucks for the people with money in Indy.
I agree with you Jonny about it all been amotionally driven. You’ve just got to watch footage of the brokers etc on the floor of wall street. It’s would be so easy for a broker to cause mayhem in the stockmarkets simply by having a bad day or faking it.
I know. I live in pittsburgh one of our banks is N. C. I went in to cash my pay check on 6 different times. They had no money to cash it. It was only 10 oclock in the morning. over 60 people were there and could not cash their checks to. The vault did not even have any money in it. I had to go to money mart to cash my check. This is becoming a promblem everywhere.
Leave a Comment