[bsrsharma]

Bernake is an idiot.

One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major  bank is a Calamity.

[bsrsharma]

Bernake is an idiot.

One of the FED governors had promised to cut the rate if there is a "Calamity". Run on Countrywide (and I read a bit on ETRADE too) was a "Calamity". Having seen S&L, I agree with him that a run on a major  bank is a Calamity.

[bsrsharma]

below 100k

That is the best universal advice anyone can give. It is the equivalent of "protection" in the post-HIV era! 

[bsrsharma]

below 100k

That is the best universal advice anyone can give. It is the equivalent of "protection" in the post-HIV era! 

[bsrsharma]

below 100k

That is the best universal advice anyone can give. It is the equivalent of "protection" in the post-HIV era! 

[bsrsharma]

I too feel unsettled. But most of our funds there are FDIC insured, so I am not too worried. Later today, they came with an announcement that their exposure to sub-prime is minimal. But this tidal wave is sucking up all mortgage backed securities. In fact, anything other than treasury or government paper seems to have become worth less. This is too big a mess to surf sensibly. We can only hope to invest conservatively and pray!

[bsrsharma]

I too feel unsettled. But most of our funds there are FDIC insured, so I am not too worried. Later today, they came with an announcement that their exposure to sub-prime is minimal. But this tidal wave is sucking up all mortgage backed securities. In fact, anything other than treasury or government paper seems to have become worth less. This is too big a mess to surf sensibly. We can only hope to invest conservatively and pray!

[bsrsharma]

I too feel unsettled. But most of our funds there are FDIC insured, so I am not too worried. Later today, they came with an announcement that their exposure to sub-prime is minimal. But this tidal wave is sucking up all mortgage backed securities. In fact, anything other than treasury or government paper seems to have become worth less. This is too big a mess to surf sensibly. We can only hope to invest conservatively and pray!

[bsrsharma]

money out anyway

Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.

[bsrsharma]

money out anyway

Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.

[bsrsharma]

money out anyway

Did you want to cash the CD before due date? That may cause them some problem. I can't believe they can hold up funds rightfully yours and remain solvent.

[bsrsharma]

http://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center

…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.

“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..

[bsrsharma]

http://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center

…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.

“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..

[bsrsharma]

http://www.latimes.com/business/la-fi-countrywide16aug16,0,1376411.story?page=1&coll=la-home-center

…………..However, the turmoil could spook depositors at Countrywide Bank, an Alexandria, Va.-based savings and loan that has grown dramatically since Countrywide Financial bought it in 2000. Nearly 40% of the bank’s $57.7 billion in deposits were not insured by the Federal Deposit Insurance Corp. as of March 31, according to the FDIC website.

“If something happens to the parent company, the bank should be able to stand alone,” said FDIC spokesman David Barr, who advised worried depositors to talk to the bank about structuring their accounts so they are completely insured. The FDIC insures individual accounts up to $100,000, but a married couple can insure up to $1 million in deposits at a single institution by setting up multiple accounts, Barr said……………..

[bsrsharma]

return of about 4% over time.

If you buy low and sell high, you can do much better, especially if you add tax savings & mortgage leverage. And unlike stocks, it is not hard to see recessions and asset bubbles. Things move at glacial speeds. I definitely like this better than stock market investing.

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