IndyMac bank failures (dollar, economic, money, federal government)

[dreamofmonterey]

Now anyone with multiple accts will only be paid 50 cents on the dollar on balances exceeding FDIC insured up to 100k.

Yeah, there is no recession

[Wendell Phillips]

What - have you been asleep? The Fed is taking over Fannie Mae and Freddie Mac as well. And more "big" bank failures are soon to follow.

[lkm370]

thats what you get when you de-regulate too much

[doubbltunman]

Originally Posted by Wendell Phillips

What - have you been asleep? The Fed is taking over Fannie Mae and Freddie Mac as well. And more "big" bank failures are soon to follow.

Oh yeah I read somewhere the fed has got their eyes on 90 banks!

[Nomander]

Originally Posted by dreamofmonterey

Now anyone with multiple accts will only be paid 50 cents on the dollar on balances exceeding FDIC insured up to 100k.

Yeah, there is no recession

1. Anyone who has that much in a single account is stupid in the first place.

2. So apparently, a bunch of stupid banks who did stupid loans to stupid people are now the leading descriptor of a recession?

[paullySC]

Originally Posted by dreamofmonterey

Now anyone with multiple accts will only be paid 50 cents on the dollar on balances exceeding FDIC insured up to 100k.

Yeah, there is no recession

Between 1990-1992 around 100 banks failed. Thanks for your professional assessment Mr. Greenspan.

[StoneOne]

Originally Posted by lkm370

thats what you get when you de-regulate too much

Or when you have stupid government policies like printing money left and right, tax breaks for people with mortgages, a federal government that rewards irresponsibility, which is what bailing out stupid banks and stupid debtors is.

[Wendell Phillips]

We are facing the greatest economic crisis since the "Great Depression" - and very probably more so.

[doubbltunman]

Originally Posted by Wendell Phillips

We are facing the greatest economic crisis since the "Great Depression" - and very probably more so.

I think this too, all I see is "reacting" I remember reading about the 1907 bank failures, with many scholars pointing to a evil few who implemented it. The same could be said about the great depression. The poor and middle class suffer while the wealthy buy up everything for nothing-kinda makes you wonder??

And they still say were not in a recession, since late '06 I estimate, and if things don't turn around soon, they'll be saying recession, while it's actually a depression. Who are they trying to fool?

[t206]

Originally Posted by dreamofmonterey

Now anyone with multiple accts will only be paid 50 cents on the dollar on balances exceeding FDIC insured up to 100k.

I cant believe how many people are surprised that they are not fully insured on the $100k.