Mattresses, safes, and wire transfers to big banks.
Fascinating the Federal Reserve has decided to take responsibility for $20 trillion worth of deposits.
REMINDER: THE ARENA PLATFORM, INC. has no obligation to monitor the Forums. However, THE ARENA PLATFORM, INC. reserves the right to review any materials submitted to or posted on the Forums, and remove, delete, redact or otherwise modify such materials, in its sole discretion and for any reason whatsoever, at any time and from time to time, without notice or further obligation to you. THE ARENA PLATFORM, INC. has no obligation to display or post any materials provided by you. THE ARENA PLATFORM, INC. reserves the right to disclose, at any time and from time to time, any information or materials that we deem necessary or appropriate to satisfy any applicable law, regulation, contract obligation, legal or dispute process or government request. Click on the following hyperlinks to further read the applicable Privacy Policy and Terms of Use.
How’s the stock market?
- Thread starter lagunaboy
- Start date
Fascinating the Federal Reserve has decided to take responsibility for $20 trillion worth of deposits.
The past 40 years I dont think any depositor got hosed for funds . I brokered govt bonds for 20 years , witnessed some real blood but to my knowledge depositors were made whole . FDIC used receiver certificates temporary but I dont recall the F U . Cont Illinois , Wash Mutual , 1st Rep , Indy Mac , American S and L , Bank of New England all were 20 bil plus . Wash mutual was 300 bil .
I'm just gonna glue this super funny post I made so it doesn't get lost
The bank did fail.
The government covered the losses of the customers.
The galloway podcast was good.
The 250 G is insured.The lesson here is, don't put more money in the bank than you can afford to lose.
You got more than that in the bank?
Richy Rich South American Flower Boy?
$250.000 = R$1.400.000... so unfortunately no. so, so, so, so, so, so, so, so far from it.The 250 G is insured.
You got more than that in the bank?
Richy Rich South American Flower Boy?
its gonna get sent to china soon. dont worry bruuuuuhhhh-kins
Yeah, it did fail.
Imagine being so bad at your job, the govt takes you over.
But even those entities with over $250K got bailed out. Maybe that is what he is on about.
Anyway, part of me really likes the making the average Jane whole within the whole FDIC thing (born out of the Great Depression, right?) and to a lessor degree, rescuing some small companies (under $50 million), and then there is the 'contagion' thing that needs to be nipped in the bud.
But this is super similar to 2008/2009, and here we are again. I hate having to help pay for other people/companies learning the same thing over (and over) again.
People that say "let the banks fail" out of spite or class jealousy don't seem to appreciate the ramifications of bank failures. Runs on banks is one of the most psychologically contagious pathogens in existence, and can easily bring down the whole banking system. When that happens, the economy just shuts down. We all remember 2008 but read up on what went down in 1929-33.
It is of utmost importance that we do whatever it takes to keep the banking system alive and working. Of course tighter regulations and good management greatly reduce the need for the government bailing out their sorry asses!
It is of utmost importance that we do whatever it takes to keep the banking system alive and working. Of course tighter regulations and good management greatly reduce the need for the government bailing out their sorry asses!
with all the herb you smoke and sugar-rich foods you eat? Not a chance
Make those who privately benefitted pay into the settlements at a massively disproportionate amount.
If you earned off of them, your next tax bill is going to hurt...
Obviously impractical, and ultimately the money just gets shuffled into anonymity, but it's nice to dream about accountability.
The traders made the loot , I facilitated trades .In the 80s traders wanted secrecy to move positions .Trades were executed at multiple brokers while they dictated price and what they would pay u .
Cool! It must have been like the film Trading Places
It teacherd me all the one lesson I needed to sukceed in life. Don't be black and poor.
Ima pay for a liposuction with the endless monay, all is good.with all the herb you smoke and sugar-rich foods you eat? Not a chance