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Black monday coming up?

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protokatie:

--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that.  The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.

--- End quote ---

Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....

SithMaster:
I believe Chad is referring to the fact that you choose to either receive (for example) 100 dollars over 20 years or 50 dollars over 40 years in the event your bank closes.  You don't get it all at once but over a period of time meaning you want to have accounts at various banks to ensure your money is available elsewhere.

My economics teacher said that their slogan is "We will pay you back"

protokatie:

--- Quote ---My economics teacher said that their slogan is "We will pay you back"

--- End quote ---

And your grand-children will be greatful.....

edit: still think I have my money in a good place, they don't do stoopid loans, and are rather stable. let's hope it pans out. Can't be any worse than what the lenders are going though...

koolmoecraig:
Strong buy on LNDC people.

Mark my words...

ChadTower:

--- Quote from: protokatie on September 30, 2008, 09:20:48 pm ---
--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that.  The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.

--- End quote ---

Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....

--- End quote ---


The gov't has the right to say whatever it wants to say - not necessarily by law but by the apathy of the people.  There are never enough citizens to fight something the gov't really wants to do.  Haven't been for a long time.  On the FDIC issue, that's a general insurance issue, too.  Large reimbursements take time.  Reimbursements in quantity take time.  Your mortgage/rent do not take time.  All that has to happen is for your bank to go under and have them take two months to get you your cash back.  No mortgage/rent for two months and the result is obvious.

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