The only thing we have to fear...is loss of faith in banks!

alpha480v

So does the fdic expect a run on the banks when they open monday?

Shannymara · Master Joined: Oct 04, 2004 Posts: 5429 Location: Oklahoma

"...virtually uninterrupted access," huh? That's so reassuring. Not. Rolling Eyes

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"Every junkie's like a setting sun..." - Neil Young

americandream

heroineworshipper

As long as any of us R still capable of being productive slaves, the banks will survive.
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People first, then things, then dollars.
There will be enslavement, cannibalism, & zombie invasions.

Kingcoal

I have a feeling that tomorrow is going to be an interesting day.
Link

Heineken

Reduce your dollar holdings to the absolute minimum necessary to conduct your daily transactions and pay your monthly bills. All the rest should be in PMs, land, house, and survival infrastructure.
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"Actually, humans died out long ago."
---Abused, abandoned hunting dog

"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother

DantesPeak

"All bank depositors should understand that their insured deposits are safe"
And uninsured deposits are not safe.
I envision a mini-panic, maybe becoming a full blown, financial panic as depositors reallocate their uninsured savings into Treasury bills. The rate on the one month Treasury bill may well be at or near zero before long.
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It's already over, now it's just a matter of adjusting.

Heineken

I heard on the network TV news tonight (ABC or NBC) that 90 more banks are in imminent risk of failure.
_________________
"Actually, humans died out long ago."
---Abused, abandoned hunting dog

"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother

IndigoMoon

Is Global Research.ca a reliable source?
Let the Lawsuits Begin: Banks Brace for a Storm of Litigation FULL STORY HERE

In an article in The San Francisco Chronicle in December 2007, attorney Sean Olender suggested that the real reason for the subprime bailout schemes being proposed by the U.S. Treasury Department was not to keep strapped borrowers in their homes so much as to stave off a spate of lawsuits against the banks. The plan then on the table was an interest rate freeze on a limited number of subprime loans. Olender wrote:

"The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value – right now almost 10 times their market worth. The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process.

". . . The catastrophic consequences of bond investors forcing originators to buy back loans at face value are beyond the current media discussion. The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC . . . .

"What would be prudent and logical is for the banks that sold this toxic waste to buy it back and for a lot of people to go to prison. If they knew about the fraud, they should have to buy the bonds back."
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Live simply, love generously, care deeply, and speak kindly.
Life isn't about waiting for the storm to pass;
It's about learning how to dance in the rain.

IslandCrow

Fiddlerdave · Heavy Crude Joined: Mar 18, 2007 Posts: 273

Ferretlover

HHHmmm... Somewhere here, there is a post which contains the link to a website that lists banks and their financial health. Does anyone remember where it is?
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"RRrrruuuunnnn!!!" ~Apocalypto

Heineken

The IndyMac thing was very professionally managed, don't you think? Low-key, carefully worded announcement after the market close on Friday, more careful posturing and bail-out maneuvers (for Freddie and Fannie) over the weekend, and now . . . market futures are up! Crisis all patched up, the shell game can go on!
_________________
"Actually, humans died out long ago."
---Abused, abandoned hunting dog

"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother