- This topic has 36 replies, 6 voices, and was last updated 16 years, 8 months ago by
5yearwaiter.
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August 19, 2007 at 12:26 AM #9934August 19, 2007 at 1:09 AM #77787
Bubblesitter
ParticipantThe FDIC limit is 100K. Anybody with a large account in CW Bank is risking losing that balance over $100K.
This is essentially a run on the bank, very rarely seen and very disturbing. The savings and loan crisis in the 80s, and Great Depression banking system collapse saw widespread runs on banks.
August 19, 2007 at 1:09 AM #77911ParticipantThe FDIC limit is 100K. Anybody with a large account in CW Bank is risking losing that balance over $100K.
This is essentially a run on the bank, very rarely seen and very disturbing. The savings and loan crisis in the 80s, and Great Depression banking system collapse saw widespread runs on banks.
August 19, 2007 at 1:09 AM #77936ParticipantThe FDIC limit is 100K. Anybody with a large account in CW Bank is risking losing that balance over $100K.
This is essentially a run on the bank, very rarely seen and very disturbing. The savings and loan crisis in the 80s, and Great Depression banking system collapse saw widespread runs on banks.
August 19, 2007 at 7:28 AM #77802August 19, 2007 at 7:28 AM #77925August 19, 2007 at 7:28 AM #77950August 19, 2007 at 8:05 AM #77811davidt1
ParticipantAugust 19, 2007 at 8:05 AM #77934ParticipantAugust 19, 2007 at 8:05 AM #77959ParticipantAugust 19, 2007 at 9:47 AM #77854NeetaT
ParticipantI have a considerable amount of cash invested in a 1yr CD at 7.5% at Millennium Bank not to be confused with the bank in the US. I look at my statement and all seems well for now. I guess I will find out in a year when I redeem my funds. I don’t consider 7.5% too good to be true seeing that interest rates in many other countries are much higher than the too low inflation causing interests rates in the US.
August 19, 2007 at 9:47 AM #77978ParticipantI have a considerable amount of cash invested in a 1yr CD at 7.5% at Millennium Bank not to be confused with the bank in the US. I look at my statement and all seems well for now. I guess I will find out in a year when I redeem my funds. I don’t consider 7.5% too good to be true seeing that interest rates in many other countries are much higher than the too low inflation causing interests rates in the US.
August 19, 2007 at 9:47 AM #78002ParticipantI have a considerable amount of cash invested in a 1yr CD at 7.5% at Millennium Bank not to be confused with the bank in the US. I look at my statement and all seems well for now. I guess I will find out in a year when I redeem my funds. I don’t consider 7.5% too good to be true seeing that interest rates in many other countries are much higher than the too low inflation causing interests rates in the US.
August 19, 2007 at 10:21 AM #778715yearwaiter
ParticipantBubblesitter Thanks for the information.
If I have CDs with joint name along with my name, still the limit for FDIC is just 100k or it is going to be 200K. I heard this is per person, so in joint holdings this is going to be automatically 200K limit, am I correct?
Second concern, how sure countrywide bank already hit the worst situation that we need to draw our excess funds? you can comment in 1 – 10 scale.
If we withdraw CDs how much penalties we supposed to pay? any formula?
Appreciate your comments n suggestions
5yearswaiter
August 19, 2007 at 10:21 AM #77995ParticipantBubblesitter Thanks for the information.
If I have CDs with joint name along with my name, still the limit for FDIC is just 100k or it is going to be 200K. I heard this is per person, so in joint holdings this is going to be automatically 200K limit, am I correct?
Second concern, how sure countrywide bank already hit the worst situation that we need to draw our excess funds? you can comment in 1 – 10 scale.
If we withdraw CDs how much penalties we supposed to pay? any formula?
Appreciate your comments n suggestions
5yearswaiter
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