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bsrsharma
ParticipantI have large deposits in SDCCU
Notwithstanding anything anyone may advice here, my advice is simple. Chop it up into 100K blocks and spread around different institutions (in FDIC protected accounts). At least that is what I am going to do. Don't analyze those numbers too much. They mean nothing when the underlying asset class is of seriously suspect value.
ParticipantFYI, SDCCU is 17th on the list. I have an account there, really nice CU.
ParticipantFYI, SDCCU is 17th on the list. I have an account there, really nice CU.
ParticipantFYI, SDCCU is 17th on the list. I have an account there, really nice CU.
Participantdrunkle,
I hope you are kidding. If not, this is the CG's bio:
Before his appointment as Comptroller General, Mr. Walker had extensive executive level experience in both government and private industry. Between 1989 and 1998, Mr. Walker worked at Arthur Andersen LLP, where he was a partner and global managing director of the human capital services practice based in Atlanta, Georgia. He was also a member of the board of Arthur Andersen Financial Advisors, a registered investment advisor. While a partner at Arthur Andersen, Mr. Walker served as a Public Trustee for Social Security and Medicare from 1990 to 1995. Before joining Arthur Andersen, Mr. Walker was Assistant Secretary of Labor for Pension and Welfare Benefit Programs from 1987 to 1989 and in 1985, was Acting Executive Director of the Pension Benefit Guaranty Corporation. His earlier technical, professional, and business experience was with Price Waterhouse, Coopers & Lybrand and Source Services Corporation, an international human resources consulting and search firm.
I know it is not in the Constitution, but what he is saying as the nation's watchdog-in-charge is simple: Our Wallets are empty, Our Checks are starting to bounce and Our Credit cards are Maxed out.
Participantdrunkle,
I hope you are kidding. If not, this is the CG's bio:
Before his appointment as Comptroller General, Mr. Walker had extensive executive level experience in both government and private industry. Between 1989 and 1998, Mr. Walker worked at Arthur Andersen LLP, where he was a partner and global managing director of the human capital services practice based in Atlanta, Georgia. He was also a member of the board of Arthur Andersen Financial Advisors, a registered investment advisor. While a partner at Arthur Andersen, Mr. Walker served as a Public Trustee for Social Security and Medicare from 1990 to 1995. Before joining Arthur Andersen, Mr. Walker was Assistant Secretary of Labor for Pension and Welfare Benefit Programs from 1987 to 1989 and in 1985, was Acting Executive Director of the Pension Benefit Guaranty Corporation. His earlier technical, professional, and business experience was with Price Waterhouse, Coopers & Lybrand and Source Services Corporation, an international human resources consulting and search firm.
I know it is not in the Constitution, but what he is saying as the nation's watchdog-in-charge is simple: Our Wallets are empty, Our Checks are starting to bounce and Our Credit cards are Maxed out.
Participantdrunkle,
I hope you are kidding. If not, this is the CG's bio:
Before his appointment as Comptroller General, Mr. Walker had extensive executive level experience in both government and private industry. Between 1989 and 1998, Mr. Walker worked at Arthur Andersen LLP, where he was a partner and global managing director of the human capital services practice based in Atlanta, Georgia. He was also a member of the board of Arthur Andersen Financial Advisors, a registered investment advisor. While a partner at Arthur Andersen, Mr. Walker served as a Public Trustee for Social Security and Medicare from 1990 to 1995. Before joining Arthur Andersen, Mr. Walker was Assistant Secretary of Labor for Pension and Welfare Benefit Programs from 1987 to 1989 and in 1985, was Acting Executive Director of the Pension Benefit Guaranty Corporation. His earlier technical, professional, and business experience was with Price Waterhouse, Coopers & Lybrand and Source Services Corporation, an international human resources consulting and search firm.
I know it is not in the Constitution, but what he is saying as the nation's watchdog-in-charge is simple: Our Wallets are empty, Our Checks are starting to bounce and Our Credit cards are Maxed out.
ParticipantStan, There is nothing psychological or behavioral in a credit crunch. For example (very oversimplified, still illustrative):
case 1: Your case: 100K income supports 350K house price. No problem.
case 2: 200K income. supports 700k house price. The potential buyers save up 140K (20%). Find the 700K house. When they search for mortgage, find none. Pick up a mortgage for 417K, try to transact at 557K.
What happened? Well the 700K house got devalued to 557K. Why? Because, this model applies to everyone in that resource universe. Since there is no competing offer, the seller has to reprice it to 557K to sell or he has to take it out of market.
Unlike conservation of matter and energy, there is no such thing as conservation of value. Value is whatever the potential buyers think it is. When they can’t get enough funds, the asset automatically devalues or goes out of market.
ParticipantStan, There is nothing psychological or behavioral in a credit crunch. For example (very oversimplified, still illustrative):
case 1: Your case: 100K income supports 350K house price. No problem.
case 2: 200K income. supports 700k house price. The potential buyers save up 140K (20%). Find the 700K house. When they search for mortgage, find none. Pick up a mortgage for 417K, try to transact at 557K.
What happened? Well the 700K house got devalued to 557K. Why? Because, this model applies to everyone in that resource universe. Since there is no competing offer, the seller has to reprice it to 557K to sell or he has to take it out of market.
Unlike conservation of matter and energy, there is no such thing as conservation of value. Value is whatever the potential buyers think it is. When they can’t get enough funds, the asset automatically devalues or goes out of market.
ParticipantStan, There is nothing psychological or behavioral in a credit crunch. For example (very oversimplified, still illustrative):
case 1: Your case: 100K income supports 350K house price. No problem.
case 2: 200K income. supports 700k house price. The potential buyers save up 140K (20%). Find the 700K house. When they search for mortgage, find none. Pick up a mortgage for 417K, try to transact at 557K.
What happened? Well the 700K house got devalued to 557K. Why? Because, this model applies to everyone in that resource universe. Since there is no competing offer, the seller has to reprice it to 557K to sell or he has to take it out of market.
Unlike conservation of matter and energy, there is no such thing as conservation of value. Value is whatever the potential buyers think it is. When they can’t get enough funds, the asset automatically devalues or goes out of market.
ParticipantRustico,
That is a nice quote from Robin Williams. One thing that puzzled me about this interview is why he never mentioned British Empire and Soviet Union. Who remembers anything about Roman Empire, unless you are some academic. But British Empire ‘s fading away is so well known. I understand it is controversial for him to compare us to Soviets and draw analogies to Afghanistan etc.
ParticipantRustico,
That is a nice quote from Robin Williams. One thing that puzzled me about this interview is why he never mentioned British Empire and Soviet Union. Who remembers anything about Roman Empire, unless you are some academic. But British Empire ‘s fading away is so well known. I understand it is controversial for him to compare us to Soviets and draw analogies to Afghanistan etc.
ParticipantRustico,
That is a nice quote from Robin Williams. One thing that puzzled me about this interview is why he never mentioned British Empire and Soviet Union. Who remembers anything about Roman Empire, unless you are some academic. But British Empire ‘s fading away is so well known. I understand it is controversial for him to compare us to Soviets and draw analogies to Afghanistan etc.
ParticipantHmm.. We moved out, gave a change of address (in new state), registered in new state, ignored all the scare letters since we HAD evidence that we have always been legal (in registration). Did’t even bother with new licenses for a few months. Finally (on third notice or so), I just called up CA DMV and described the wasteful threat letters they are sending OUT OF STATE and she just wiped it all clean from the computer.
I think giving an out of state change of address as soon as possible may reduce the pain as it takes time to trickle down the database.
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