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bsrsharma
ParticipantYour friend, who seems fortunate to be having more than $100K in savings account, should be more skeptical of the “guarantee”. He can’t multiply the insured amount by splitting it, unless it is in different categories of accounts.
Coverage Over $100,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
Common Ownership CategoriesThe most common ownership categories are:
* Single Accounts
* Certain Retirement Accounts
* Joint Accounts
* Revocable Trust Accounts
Considering WaMu is certain to go down soon, he should definitely limit his exposure there to $100K. I am fairly certain, he will lose anything beyond that.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
ParticipantYour friend, who seems fortunate to be having more than $100K in savings account, should be more skeptical of the “guarantee”. He can’t multiply the insured amount by splitting it, unless it is in different categories of accounts.
Coverage Over $100,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
Common Ownership CategoriesThe most common ownership categories are:
* Single Accounts
* Certain Retirement Accounts
* Joint Accounts
* Revocable Trust Accounts
Considering WaMu is certain to go down soon, he should definitely limit his exposure there to $100K. I am fairly certain, he will lose anything beyond that.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
ParticipantYour friend, who seems fortunate to be having more than $100K in savings account, should be more skeptical of the “guarantee”. He can’t multiply the insured amount by splitting it, unless it is in different categories of accounts.
Coverage Over $100,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
Common Ownership CategoriesThe most common ownership categories are:
* Single Accounts
* Certain Retirement Accounts
* Joint Accounts
* Revocable Trust Accounts
Considering WaMu is certain to go down soon, he should definitely limit his exposure there to $100K. I am fairly certain, he will lose anything beyond that.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
ParticipantYour friend, who seems fortunate to be having more than $100K in savings account, should be more skeptical of the “guarantee”. He can’t multiply the insured amount by splitting it, unless it is in different categories of accounts.
Coverage Over $100,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
Common Ownership CategoriesThe most common ownership categories are:
* Single Accounts
* Certain Retirement Accounts
* Joint Accounts
* Revocable Trust Accounts
Considering WaMu is certain to go down soon, he should definitely limit his exposure there to $100K. I am fairly certain, he will lose anything beyond that.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
ParticipantYour friend, who seems fortunate to be having more than $100K in savings account, should be more skeptical of the “guarantee”. He can’t multiply the insured amount by splitting it, unless it is in different categories of accounts.
Coverage Over $100,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
Common Ownership CategoriesThe most common ownership categories are:
* Single Accounts
* Certain Retirement Accounts
* Joint Accounts
* Revocable Trust Accounts
Considering WaMu is certain to go down soon, he should definitely limit his exposure there to $100K. I am fairly certain, he will lose anything beyond that.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
ParticipantCould Count Maurice Lippens be right? This is by Lawrence Summers:
What we can do in this dangerous moment
It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August. Staggering increases in the prices of oil and other commodities have brought American consumer confidence to new lows and raised serious concerns about inflation, thereby limiting the capacity of monetary policy to respond to a financial sector which – judging by equity values – is at its weakest point since the crisis began. With housing values still falling and growing evidence that problems are spreading to the construction and consumer credit sectors, there is a possibility that a faltering economy damages the financial system, which weakens the economy further….
http://www.ft.com/cms/s/0/916e6012-45fa-11dd-9009-0000779fd2ac.html?nclick_check=1
ParticipantCould Count Maurice Lippens be right? This is by Lawrence Summers:
What we can do in this dangerous moment
It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August. Staggering increases in the prices of oil and other commodities have brought American consumer confidence to new lows and raised serious concerns about inflation, thereby limiting the capacity of monetary policy to respond to a financial sector which – judging by equity values – is at its weakest point since the crisis began. With housing values still falling and growing evidence that problems are spreading to the construction and consumer credit sectors, there is a possibility that a faltering economy damages the financial system, which weakens the economy further….
http://www.ft.com/cms/s/0/916e6012-45fa-11dd-9009-0000779fd2ac.html?nclick_check=1
ParticipantCould Count Maurice Lippens be right? This is by Lawrence Summers:
What we can do in this dangerous moment
It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August. Staggering increases in the prices of oil and other commodities have brought American consumer confidence to new lows and raised serious concerns about inflation, thereby limiting the capacity of monetary policy to respond to a financial sector which – judging by equity values – is at its weakest point since the crisis began. With housing values still falling and growing evidence that problems are spreading to the construction and consumer credit sectors, there is a possibility that a faltering economy damages the financial system, which weakens the economy further….
http://www.ft.com/cms/s/0/916e6012-45fa-11dd-9009-0000779fd2ac.html?nclick_check=1
ParticipantCould Count Maurice Lippens be right? This is by Lawrence Summers:
What we can do in this dangerous moment
It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August. Staggering increases in the prices of oil and other commodities have brought American consumer confidence to new lows and raised serious concerns about inflation, thereby limiting the capacity of monetary policy to respond to a financial sector which – judging by equity values – is at its weakest point since the crisis began. With housing values still falling and growing evidence that problems are spreading to the construction and consumer credit sectors, there is a possibility that a faltering economy damages the financial system, which weakens the economy further….
http://www.ft.com/cms/s/0/916e6012-45fa-11dd-9009-0000779fd2ac.html?nclick_check=1
ParticipantCould Count Maurice Lippens be right? This is by Lawrence Summers:
What we can do in this dangerous moment
It is quite possible that we are now at the most dangerous moment since the American financial crisis began last August. Staggering increases in the prices of oil and other commodities have brought American consumer confidence to new lows and raised serious concerns about inflation, thereby limiting the capacity of monetary policy to respond to a financial sector which – judging by equity values – is at its weakest point since the crisis began. With housing values still falling and growing evidence that problems are spreading to the construction and consumer credit sectors, there is a possibility that a faltering economy damages the financial system, which weakens the economy further….
http://www.ft.com/cms/s/0/916e6012-45fa-11dd-9009-0000779fd2ac.html?nclick_check=1
ParticipantWhat do you make of this? Chairman of a large European bank talking. Is he drunk or a genius?
**3rd largest bank expects complete collapse of the US financial market**
Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”
ParticipantWhat do you make of this? Chairman of a large European bank talking. Is he drunk or a genius?
**3rd largest bank expects complete collapse of the US financial market**
Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”
ParticipantWhat do you make of this? Chairman of a large European bank talking. Is he drunk or a genius?
**3rd largest bank expects complete collapse of the US financial market**
Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”
ParticipantWhat do you make of this? Chairman of a large European bank talking. Is he drunk or a genius?
**3rd largest bank expects complete collapse of the US financial market**
Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”
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