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You have to keep in mind that just because a bank fails does not mean it is worth ZERO. They still have to account for the money. Even when a bank fails, a high percentage of your's and everyone else's money is there. FDIC steps in when not enough money, left at the bank is there to cover the $ deposited.
If you have $150,000 in a single account and your bank fails, chances are at the current moment in time, you would recover all your funds. Now if we start to see hundreds of banks, including the big national banks fail, then it's probably time to stuff your mattress.
you Have To Keep In Mind That Just Because A Bank Fails Does Not Mean It Is Worth Zero. They Still Have To Account For The Money. Even When A Bank Fails, A High Percentage Of Your's And Everyone Else's Money Is There. Fdic Steps In When Not Enough Money, Left At The Bank Is There To Cover The $ Deposited.
If You Have $150,000 In A Single Account And Your Bank Fails, Chances Are At The Current Moment In Time, You Would Recover All Your Funds. Now If We Start To See Hundreds Of Banks, Including The Big National Banks Fail, Then It's Probably Time To Stuff Your Mattress.
The Is No Money. The American Taxpayer Is Carrying A 9 Trillion Dollar Debt, Along With Trillions More In Personal Debt. I Guess The Fdic Will Borrow More Money From China In Order To Repay Those Whose Banks Folded.
The Is No Money. The American Taxpayer Is Carrying A 9 Trillion Dollar Debt, Along With Trillions More In Personal Debt. I Guess The Fdic Will Borrow More Money From China In Order To Repay Those Whose Banks Folded.
That is assuming that the FDIC 'repays' failed bank deposts at a dollar-for-dollar ratio, which it has no requirement to do.
The FDIC could quite happily 'repay' all insured deposits with 5cents on the dollar.
That is assuming that the FDIC 'repays' failed bank deposts at a dollar-for-dollar ratio, which it has no requirement to do.
The FDIC could quite happily 'repay' all insured deposits with 5cents on the dollar.
or not at all. FDIC could very well just up and cancel their insurance. if 20 million people suddenly lost their money, it would be real hard for the goverment to come up with 2,000,000,000,000.00 dollars.
or not at all. FDIC could very well just up and cancel their insurance. if 20 million people suddenly lost their money, it would be real hard for the goverment to come up with 2,000,000,000,000.00 dollars.
Indy-Mac just failed, how many more? Will the Fed borrow from China to cover all of them, including Freddie and Fanny? Will National debt climb to 20 trillion?
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