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#513120 - 06/08/09 02:29 PM Re: Picture = 1,000 words. *** [Re: ]
Todd Offline
Dick Nipples

Registered: 03/08/99
Posts: 27838
Loc: Seattle, Washington USA
Oil prices shouldn't rise every Friday afternoon, or the day before Memorial Day Weekend, or the day before Fourth of July...but they do.

Fish on...

Todd
_________________________


Team Flying Super Ditch Pickle


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#513123 - 06/08/09 02:46 PM Re: Picture = 1,000 words. [Re: ]
stlhead Offline
River Nutrients

Registered: 03/08/99
Posts: 6732
Different because the FDIC is insurance on deposits only. And up to $100K at the time. No mortgages, etc. Talk about massive losses.
_________________________
"You learn more from losing than you do from winning." Lou Pinella

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#513134 - 06/08/09 03:39 PM Re: Picture = 1,000 words. [Re: stlhead]
Dogfish Offline
Poodle Smolt

Registered: 05/03/01
Posts: 10878
Loc: McCleary, WA
FDIC insurance is currently $250,000 per relationship. Proper structuring of account ownership allows a couple with two or three kids to easily safeguard over $1 million. I bet I could get that up over $2MM.

FDIC insurance on non interest bearing checking accounts and savings accounts earning less than 0.50% is unlimited, provided that they are business accounts.
_________________________
"Give me the anger, fish! Give me the anger!"

They call me POODLE SMOLT!

The Discover Pass is brought to you by your friends at the CCA.

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#513141 - 06/08/09 04:31 PM Re: Picture = 1,000 words. [Re: Salmonella]
Mikespike Offline
MPD

Registered: 01/02/08
Posts: 2544
Loc: Santa Rosa, CA
Originally Posted By: Salmonella

Just one more hurdle that Todd & Mikespike's beloved lefty politicians have thrown at gun owners in this state.

I've never been what you call a "gun nut" but Todd's sarcasm is ridiculous to say the least.



Salmonella-

I am a registered Republican. I have no love for "lefty pliticians" or the GOP. I voted for Ron Paul.

I enjoy Todd's sarcasm because it is on the mark - the government is not coming to take our guns. If the government wants to, it will take us out from the air or with armor or with artillery. Our guns will not protect us from the military, nor will our guns protect us from legislation. That last one is the real killer. smile
_________________________
Don't believe everything that you think.

"Holy hell son, you're about as useful as a cock flavored lollipop."

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#513142 - 06/08/09 04:34 PM Re: Picture = 1,000 words. [Re: Dogfish]
stlhead Offline
River Nutrients

Registered: 03/08/99
Posts: 6732
That's why I said "at the time".

Here is just the foreign activity (insured by the FDIC add 000 down from 2008):

Deposits, total 1,416,065,967
Individuals, partnerships & corporations 1,087,201,228
Commercial banks & other depository Institutions in the U.S.
88,820,199
Banks in foreign countries 163,498,001
Foreign governments and official institutions 75,710,425
U.S. government, states, and political subdivisions 836,117
_________________________
"You learn more from losing than you do from winning." Lou Pinella

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#513143 - 06/08/09 04:53 PM Re: Picture = 1,000 words. [Re: stlhead]
Dogfish Offline
Poodle Smolt

Registered: 05/03/01
Posts: 10878
Loc: McCleary, WA
We have seen a huge influx of funds from large banks. Between March 1st and April 30th, 44 business days, we saw a $45MM increase in deposits, or just over $1MM per day. (Our bank is about $650MM in size, so that is a huge increase)

Stupid people lose money due to not having FDIC insurance. Structuring accounts, pledging cash as security for an unused line, or using a CD program like CDARS will allow 99% of people to get full FDIC protection.

Banks right now are paying an increased assessment to build the fund back up.

Or, you can hide your head in the sand and see how that goes......
_________________________
"Give me the anger, fish! Give me the anger!"

They call me POODLE SMOLT!

The Discover Pass is brought to you by your friends at the CCA.

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#513146 - 06/08/09 05:26 PM Re: Picture = 1,000 words. [Re: Dogfish]
stlhead Offline
River Nutrients

Registered: 03/08/99
Posts: 6732
So what is your point? Are you making the argument that simply bailing out the FDIC would have resolved the banking crisis, like Hankster claims, or are you just blowing smoke and informing us all that you work at a bank? My argument is the issue was much greater than individual deposits and covering foreign deposits alone would have been almost $2 trillion anyway. Not to mention all of that covered foreign money going bye bye as countries pull out. Mom and pop wouldn't have to worry about their savings because the US dollar would have been all but worthless anyway.
_________________________
"You learn more from losing than you do from winning." Lou Pinella

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#513147 - 06/08/09 05:52 PM Re: Picture = 1,000 words. [Re: stlhead]
AP a.k.a. Kaiser D Offline
Hippie

Registered: 01/31/02
Posts: 4450
Loc: B'ham
The FDIC could NEVER have covered all deposits. How meaningful is FDIC "coverage" if you can't get it when you want it?

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#513151 - 06/08/09 06:08 PM Re: Picture = 1,000 words. [Re: AP a.k.a. Kaiser D]
ISO Chrome
Unregistered


Mike,

I'm not worried about anyone taking my weapons either. In the first place, I would venture to guess that 90% of law enforcement would all but ignore the directive, and second, the SCOTUS would never allow it.

My concern is that we are following in the [already failed] footsteps of other governments...socialist ones. It all sounds great, but it just doesn't work!

I'm 50, and will only be paying into the sytem for another 15 yrs or so (or until I croak, whichever is sooner). Problem is our kids, and grand kids are going to be saddled with the BILLS for what is being spent now for their entire working lives, and when it all collapses (and it will) we will be just that much worse off.

That's what I'm afraid of.

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#513154 - 06/08/09 06:15 PM Re: Picture = 1,000 words. [Re: ]
stlhead Offline
River Nutrients

Registered: 03/08/99
Posts: 6732
True but the robbing Peter to pay Paul is pure Reaganomics 101. You'll be lucky to collect on that SS. At some point I'm going to be tempted to withdrawal all of my 401K moneys and pay at todays tax rate because, even with the penalty, tomorrows tax rate is going to be ugly.
_________________________
"You learn more from losing than you do from winning." Lou Pinella

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#513155 - 06/08/09 06:23 PM Re: Picture = 1,000 words. [Re: stlhead]
BERG Offline
Returning Adult

Registered: 02/07/09
Posts: 380
Loc: PA
Originally Posted By: stlhead
True but the robbing Peter to pay Paul is pure Reaganomics 101. You'll be lucky to collect on that SS. At some point I'm going to be tempted to withdrawal all of my 401K moneys and pay at todays tax rate because, even with the penalty, tomorrows tax rate is going to be ugly.


Roll it into an IRA, then convert to a ROTH. You'll pay the taxes, but avoid the penalty. If you can't do that now because of income restrictions, you should be able to next year, when the rules change.

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#513159 - 06/08/09 06:47 PM Re: Picture = 1,000 words. [Re: ]
Mikespike Offline
MPD

Registered: 01/02/08
Posts: 2544
Loc: Santa Rosa, CA
Originally Posted By: ISO Chrome
Mike,
I'm 50, and will only be paying into the sytem for another 15 yrs or so (or until I croak, whichever is sooner).


Wow. You think WE will actually get to retire? doh wink The North Koreans will take us all out before that happens... moose
_________________________
Don't believe everything that you think.

"Holy hell son, you're about as useful as a cock flavored lollipop."

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#513164 - 06/08/09 08:49 PM Re: Picture = 1,000 words. [Re: ]
goharley Offline
River Nutrients

Registered: 03/27/02
Posts: 3188
Loc: U.S. Army
Originally Posted By: ISO Chrome
My concern is that we are following in the [already failed] footsteps of other governments...socialist ones. It all sounds great, but it just doesn't work!
Ever stop to consider how many of the industrailized nations in the world are more socialist than not, in comparison to how many subscribe to an economic system that mirrors ours?

DISCLAIMER: Not to be construed as an endorsement of socialism, just something to think about. Although I admit I would be perfectly content with a more socialized system here.
_________________________
Tent makers for Christie, 2016.

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#513174 - 06/08/09 10:01 PM Re: Picture = 1,000 words. [Re: ]
4Salt Offline
River Nutrients

Registered: 03/07/00
Posts: 2955
Loc: Lynnwood, WA
Well Hank... since the European democracies are FAR more socialized than we are... and the "Trickle-down", pseudo-fascist, corporate oligopoly, 'favor the rich at the expense of the middle-class' system that's been in place here for the last 30 years has been an abject FAILURE and has been patently rejected by the American electorate... perhaps a hybrid that employs the BEST of both systems would be in our best interest?

Something else to consider...
_________________________
A day late and a dollar short...

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#513178 - 06/08/09 10:12 PM Re: Picture = 1,000 words. [Re: 4Salt]
Todd Offline
Dick Nipples

Registered: 03/08/99
Posts: 27838
Loc: Seattle, Washington USA
Yeah, 4Salt, but that's the American Way. Hasn't always been that way, but it sure is now.

Sarcasm? Sure...would you rather hear my actual feelings about the childlike fear-mongering around gun grabbing that you "tough gun guys" are always being peddled by the NRA, and eating up like candy?

No, you wouldn't...so take the sarcasm and get over it.

Fish on...

Todd
_________________________


Team Flying Super Ditch Pickle


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#513215 - 06/09/09 01:23 AM Re: Picture = 1,000 words. [Re: ]
Dogfish Offline
Poodle Smolt

Registered: 05/03/01
Posts: 10878
Loc: McCleary, WA
FDIC won't fail. Period. The healthy banks will cover the losses of those who are not, unfortunately, and shareholder returns will suffer.

When the Bank of Clark County went down a few months back, Washington's own little version of FDIC worked as it should. All uninsured public deposits were covered by other Washington banks within the pool. This did not include credit unions or S&L's, just banks.

We wrote a check for $80,000. B of A wrote a check for $4MM.

The same essential chain of events will occur when/if any bank large enough to threaten FDIC's reserves fails. I think we are at 35, or 37 year to date on bank failures. Banks will pay a special assessement based upon a percentage of their assets, and the fund will be replenished.

You can wring your hands all you want. The FDIC won't fail. Yes, the dollar is going to be taking a hit. Yes, some stupid people will lose money. How much of a hit is only conjecture at this point. You don't know any more than I do at this point. The FDIC is a non-issue compared to the other issues out there.

Some people I know are diversifying their cash into metals, and some foreign currency as a hedge. Not a bad idea in my opinion.

Anyway, I'm not a teller, I don't help folks balance their checkbooks, but if you need a few million bucks, are interested in a particitaion or syndication deal, need to buy or sell a business, or finance a trucking fleet, I'm your man.

Interesting time to be a banker.
_________________________
"Give me the anger, fish! Give me the anger!"

They call me POODLE SMOLT!

The Discover Pass is brought to you by your friends at the CCA.

Top
#513232 - 06/09/09 10:55 AM Re: Picture = 1,000 words. [Re: ]
Mikespike Offline
MPD

Registered: 01/02/08
Posts: 2544
Loc: Santa Rosa, CA
Originally Posted By: Hankster

The American electorate responded to the latest meltdown with a vote for "change". They are becoming increasingly uncomfortable with the style of "change" that they got. Check the Rasmussen website and you'll see the sinking poll numbers for the policies that are being considered.

Not to say Obama isn't still popular, just that his policies aren't.


Hankster!

I heard this on the radio this morning and instantly thought of you, in a good way, so enjoy!
_________________________
Don't believe everything that you think.

"Holy hell son, you're about as useful as a cock flavored lollipop."

Top
#513234 - 06/09/09 11:09 AM Re: Picture = 1,000 words. [Re: ]
EnglishPete Offline
The Duke of Death

Registered: 03/13/09
Posts: 242
Loc: Upyerarseland
Originally Posted By: AuntyM

You pick and chose which amendment deserves your internet defense while admonishing others who suspend all rational thought so that they can continue to live in their respective fantasy worlds. There is a word for that... astute.


fixed smile
_________________________
I may be the Duke of Death, but I'm no English Bob

What do Princess Diana and Pink Floyd have in common? Their biggest hit was the wall.

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#513236 - 06/09/09 11:20 AM Re: Picture = 1,000 words. [Re: EnglishPete]
Dogfish Offline
Poodle Smolt

Registered: 05/03/01
Posts: 10878
Loc: McCleary, WA
..and if the entire financial system fails, you'll be wishing you had a gun.
_________________________
"Give me the anger, fish! Give me the anger!"

They call me POODLE SMOLT!

The Discover Pass is brought to you by your friends at the CCA.

Top
#513237 - 06/09/09 11:32 AM Re: Picture = 1,000 words. [Re: Dogfish]
stlhead Offline
River Nutrients

Registered: 03/08/99
Posts: 6732
If, as Hankster has proposed, we had taken the approach of no TARP and instead let the chips fall where they may as FDIC funds rapidly dwindled there would be an increasing rate of "run on the banks". it would be a snowball effect. We'd be forced to bail out the FDIC or get used to being a third world country. Small banks would be toast. Nobody in their right mind is going to keep large sums in a small bank with the FDIC on the verge of running out of deposit insurance.
_________________________
"You learn more from losing than you do from winning." Lou Pinella

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