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Author Topic: FDIC  (Read 1411 times)

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hard10

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FDIC
« on: July 14, 2008, 11:50:18 PM »
With all the turmoil in the banking industry, how worried is everyone about their bank? There was a massive amount of people trying to get money out of Indymac today. The Feds will insure deposits up to $100k, but people are still panicking. What do you think?
AJ
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hard10

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Re: FDIC
« Reply #1 on: July 15, 2008, 01:08:46 AM »
A little more information:

"
FDIC Information for IndyMac Bank, F.S.B., Pasadena, CA
On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator. All non-brokered insured deposit accounts have been transferred to IndyMac Federal Bank, F.S.B., Pasadena, CA ("assuming institution") a new FDIC-insured Federal Mutual Savings Bank. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

Please select the link below to read more about this event:

FDIC Bank Closing Information for IndyMac

The IndyMac websites are expected to be available Monday, July 14, 2008.

If the balance in your account(s) (this includes any accounts in which you have an ownership) is less than $100,000, no action is required on your part at this time. Your entire insured account(s) will be transferred to IndyMac Federal Bank and will be available for business as usual during regular business hours."
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Chief

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Re: FDIC
« Reply #2 on: July 15, 2008, 07:56:58 AM »
Quote from: hard10 on July 15, 2008, 01:08:46 AM
A little more information:

"
FDIC Information for IndyMac Bank, F.S.B., Pasadena, CA
On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator. All non-brokered insured deposit accounts have been transferred to IndyMac Federal Bank, F.S.B., Pasadena, CA ("assuming institution") a new FDIC-insured Federal Mutual Savings Bank. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

Please select the link below to read more about this event:

FDIC Bank Closing Information for IndyMac

The IndyMac websites are expected to be available Monday, July 14, 2008.

If the balance in your account(s) (this includes any accounts in which you have an ownership) is less than $100,000, no action is required on your part at this time. Your entire insured account(s) will be transferred to IndyMac Federal Bank and will be available for business as usual during regular business hours."

I bank at Wachovia. SE06 has got my back. :2vrolijk_21:

:indian_chief:
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SBB

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Re: FDIC
« Reply #3 on: July 15, 2008, 08:06:10 AM »
Quote from: Chief on July 15, 2008, 07:56:58 AM
I bank at Wachovia. SE06 has got my back. :2vrolijk_21:

:indian_chief:

Damn right!

At 9.95 a share we bought a bunch yesterday!

 :2vrolijk_21:
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hard10

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Re: FDIC
« Reply #4 on: July 15, 2008, 08:18:53 AM »
Quote from: Silver-Black on July 15, 2008, 08:06:10 AM
Damn right!

At 9.95 a share we bought a bunch yesterday!

 :2vrolijk_21:


I said it a couple of months ago, cash is King!
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FR8TRN

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Re: FDIC
« Reply #5 on: July 15, 2008, 09:13:53 AM »
Quote from: hard10 on July 15, 2008, 08:18:53 AM

I said it a couple of months ago, cash is King!

Cash may be King but He who has the Gold makes the Rules........while that paper is dropping value quick the precious metal is goin up......

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Hugh Janis

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Re: FDIC
« Reply #6 on: July 15, 2008, 09:25:48 AM »
Isn't FDIC an insurance that banks pay into?  No one worries about insurance providers after a hurricane.  This market correction is short lived.  Now is the best time to be buying, not selling.  The Great Depression made a lot of millionaires out of people who were doing exactly that.
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Re: FDIC
« Reply #7 on: July 15, 2008, 10:42:56 AM »
Quote from: Silver-Black on July 15, 2008, 08:06:10 AM
Damn right!

At 9.95 a share we bought a bunch yesterday!

 :2vrolijk_21:



Chip....Whatever you do, don't check it this AM...appears to  be dropping like a brick on the early AM analysts reports
« Last Edit: July 15, 2008, 10:44:53 AM by BLM777 »
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WFP

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Re: FDIC
« Reply #8 on: July 17, 2008, 02:36:19 PM »
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