Comments on: What if the FDIC fails? http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/ Wed, 08 Feb 2012 23:56:00 +0000 hourly 1 By: Mike http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-2262 Mike Wed, 08 Oct 2008 01:46:33 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-2262 Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe? Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe?

]]> By: Mike http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-6207 Mike Wed, 08 Oct 2008 01:46:33 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-6207 Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe? Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe?

]]> By: Mike http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-2261 Mike Tue, 07 Oct 2008 19:46:33 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-2261 Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe? Okay, here it is, about 3 months later and the Dow is cratering and the S & P just went below 1000. Bank of America, after ingesting Merrill Lynch and Countrywide, has cut its dividend and has reported profits are off 68%, sending it's share price down. What's your take on the FDIC now ? Should I buy a safe?

]]> By: Michael F. http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-6210 Michael F. Thu, 02 Oct 2008 04:46:14 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-6210 Don't be so altruistic. We're the victims when we put our money into a bank and they can't give it back to us because they've mismanaged OUR money. They make their money using our money and sometimes they lose our money. So I don't think it's a matter of selfishness as much as it is a disappointment in the banking system. Don't be so altruistic. We're the victims when we put our money into a bank and they can't give it back to us because they've mismanaged OUR money. They make their money using our money and sometimes they lose our money. So I don't think it's a matter of selfishness as much as it is a disappointment in the banking system.

]]> By: Michael F. http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-2260 Michael F. Wed, 01 Oct 2008 22:46:14 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-2260 Don't be so altruistic. We're the victims when we put our money into a bank and they can't give it back to us because they've mismanaged OUR money. They make their money using our money and sometimes they lose our money. So I don't think it's a matter of selfishness as much as it is a disappointment in the banking system. Don't be so altruistic. We're the victims when we put our money into a bank and they can't give it back to us because they've mismanaged OUR money. They make their money using our money and sometimes they lose our money. So I don't think it's a matter of selfishness as much as it is a disappointment in the banking system.

]]> By: Alain Wong http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-6208 Alain Wong Tue, 15 Jul 2008 12:04:56 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-6208 This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone? This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone?

]]> By: Alain Wong http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-2258 Alain Wong Tue, 15 Jul 2008 06:04:56 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-2258 This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone? This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone?

]]> By: Alain Wong http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-2259 Alain Wong Tue, 15 Jul 2008 06:04:56 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-2259 This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone? This is definitely a scary thought. But I think the government will not allow the FDIC to fail and merely print more dollars on an as needed basis. This of course will drive the dollar even lower. Gas at $8/gallon anyone?

]]> By: Jonathan Fleming http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-12306 Jonathan Fleming Mon, 14 Jul 2008 07:19:00 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-12306 I really wouldn't worry about it, it is a short term pain for sure, however panic, worry and undue stress won't help! There is nothing anyone can do, every ten years crazy things happen after a major bull run. History is layered with this stuff, in the short term there is pain, however in a few years, things always get better. I would not believe all the doom and gloom hype, it sells newspapers! :) Jonathan Fleming www.localhouseblog.com I really wouldn’t worry about it, it is a short term pain for sure, however panic, worry and undue stress won’t help! There is nothing anyone can do, every ten years crazy things happen after a major bull run. History is layered with this stuff, in the short term there is pain, however in a few years, things always get better. I would not believe all the doom and gloom hype, it sells newspapers! :)

Jonathan Fleming
http://www.localhouseblog.com

]]> By: Sean J Connolly http://www.christopherspenn.com/2008/07/what-if-the-fdic-fails/#comment-6209 Sean J Connolly Mon, 14 Jul 2008 02:48:21 +0000 http://www.christopherspenn.com/2008/07/13/what-if-the-fdic-fails/#comment-6209 My God it seems that the whole world is falling apart, the bit I dont get is that people dont think banks and insurance places need money, taking monney out will not help. Just look at Northern Rock in the UK. people are selfish. My God it seems that the whole world is falling apart, the bit I dont get is that people dont think banks and insurance places need money, taking monney out will not help. Just look at Northern Rock in the UK. people are selfish.

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