Comments on: Is Your Bank Safe from Collapse?

By: Jerry

Jerry — Wed, 10 Feb 2010 19:27:55 +0000

If you all had a clue we would not be in this mess. Congress is to blame for this mess, they are the one’s who had oversight. As for the Islamic nuts or extremist as they are called they attacked us we did not attack them, This is America the brave not America the cowards. Right now we are losing rights because people want the government to provide everything for them and those things cost, they cost in dollars(which we cant afford) and they cost in the lose of your rights.

By: Why Questions

Why Questions — Thu, 06 Aug 2009 21:43:46 +0000

It’s all about money. The banks will do anything to get to your money… So I am not afraid of them going to collapse. They will all survive, one way or the other.

By: Krystina

Krystina — Tue, 26 May 2009 18:30:38 +0000

If you want to blame anyone, might as well blame woodrow wilson since he was bought out basically by the fed. Look at the economy broadview since 1913 along with the world wars and other wars? Is is a coincidence or was it planned for others to profit? Our founders knew central banks (the fed) were a factory of evil, that is why they left the clutches of englands central bank! Presidents are only puppets to the feds clutches, don’t blame Bush or Obama. Blame the fed.

By: Pete

Pete — Sun, 05 Apr 2009 21:28:02 +0000

I believe the safest banks to have your money in are the credit unions. They have much more stringent rules about lending money and most of them don’t loan on homes, as a result their exsposure to the problem is small and they have a seperate goverment backed insurance progrom like the FDIC. I also believe the big 4 Bank of America, Wells Fargo, US bank and JP Morgan are safe. The US government has allready given them money and won’t allow their investment go to waste.

By: John Kaplan

John Kaplan — Wed, 25 Feb 2009 15:23:39 +0000

I think the safest American bank that has more than 5 banks is Chase. jpmorgan are the only ones that didn’t invest so heavily in subprime mortgages as all the other banks so they didnt have to write off so much debt. For the people looking to get high savings rates and hope FDIC will cover them, think again. If chase didnt buy out WaMu, the Federal government didn’t have the funds to pay out all the depositors. So it could take up to a 100 years for you to get your money back. I say take the lower rates and sleep well at night.

By: sir jorge

sir jorge — Tue, 17 Feb 2009 00:44:39 +0000

comic books, invest in comic books

By: LevelHead

LevelHead — Sat, 14 Feb 2009 23:53:10 +0000

Put money in Credit Unions.
They are locally operated and actually owned by their members, on a not for profit basis.
Since they are not searching for huge profits, they did not make the risky investments that pulled the banks under.
Every dollar you put in a credit union is supporting your localities financial security.
They are FDIC insured, so the government will back them up if they do fail.

By: Bonds information

Bonds information — Thu, 12 Feb 2009 14:21:07 +0000

I guess we’ll never be certain. At least not until this crisis goes away.

Michelle

By: Bernz

Bernz — Tue, 10 Feb 2009 17:37:58 +0000

Well, my wife is a bank executive of one of local community banks and we do have money deposited there although we have reduce our savings account with them by almost 50% and moved it to another bank. Their bank is not in good shape as well. They either have been trying to sell the bank and or looking for investors. Bad loans are the main issues with their bank. She told me the other day that it’s more of like wait and see for them in the next six months. They are FDIC insured by the way.

By: aidan

aidan — Fri, 06 Feb 2009 03:09:24 +0000

i agree wit you personal finance..people must have control also..

By: Andy

Andy — Tue, 27 Jan 2009 16:55:43 +0000

Repeat after me, only invest in banks that are FDIC insured. As long as the US government is in business, then nothing to worry about.

By: Chris

Chris — Fri, 23 Jan 2009 14:30:54 +0000

http://www.rabodirect.ie/media-marketing/press/press-releases/worlds-safest-bank.aspx

By: personal finance ?

personal finance ? — Fri, 23 Jan 2009 11:19:04 +0000

That was a great video describing the way banks work. It should be shown in every 8th grade classroom.

The banks have totally screwed up, but I don’t think the entire blame is on them. If people could take better care of their own finances and not get themselves into debt they can’t pay back, the banks wouldn’t be as bad as they are.

By: J. Loiacano

J. Loiacano — Sat, 17 Jan 2009 04:47:37 +0000

Well, well, well, Mike M. Where should I start. If social darwinism where the case, I believe I would call you the do-do. Though the numbers may not be exactly 54B compared to 4T in the “rumors” it is fairly well known that if there were a domino effect run on the banks, that the FDIC does not have enough money to cover all of them. One, maybe. Two, would be pushing it. Granted, the assets of the failing banks would be bought by other larger banks along with the liabilities so the government would most likely not have to step in. The only situation where the government would have to step in, on more than just a temporary basis, would be many banks failing at once with no other banks willing to buy them out. And in this case, the FDIC does not have enough. Kind of a catch-22.

And how can you say that Washington Mutual is (was) not a major bank? Or Wells Fargo for that matter? Washington Mutual was THE oldest and largest savings and loans institution in the US. and Wells Fargo is the fourth largest bank in the US.

And just because the sign at the drive-thru says your money is insured??? Please, let me crap in a box and put a sign on it saying it is worth $50. Enough people that think in those terms and I could be a millionaire.

I apologize if it seems that I am picking on you. It was just that your’s was the last post and I found it entirely laughable.

Back to the subject at hand, though most of the bad seems to be behind us with the banks (hopefully), your safest bet IMHO is to stick with local credit unions which offer most banking services. There are many advantages (and a few disadvantages) to using credit unions like these. But, every person should check if it works for their specific situations and needs.

By: Mike M

Mike M — Sat, 17 Jan 2009 01:53:18 +0000

Washington Mutual is not a major bank. Neither is Wells Fargo.

There’s a thing called the FDIC. It has money to back up your savings up to $250k now (it used to be $100k), there’s a sign on every drive-thru at every bank in the US of A. This is what prevents runs on banks: The US federal government.

Writing a rumor in bold does not make it any more valid.

Your fear mongering is ludicrous. People like you should be subject to social darwinism accelerated.

By: Ray

Ray — Wed, 14 Jan 2009 18:43:16 +0000

Citi is toast. Government is forcing them to sell their only profitable division to raise money. And this after they took what 20 billion tax payer dollars. We need to let these banks fail.

By: Ruben

Ruben — Sun, 11 Jan 2009 22:34:55 +0000

Banks are doing fine, they just have to find another way to ripoff people after the mortgage mess.

By: Trader Mom

Trader Mom — Sun, 11 Jan 2009 21:13:44 +0000

I am a stock trader. All my money is in stocks. And I am doing just fine since I short stocks 50% of the time.

By: Jack

Jack — Thu, 08 Jan 2009 03:35:02 +0000

Invest in farmland or multi-family real estate (apartment buildings). Thats old school investing right there.

By: Live Well Simply

Live Well Simply — Tue, 09 Dec 2008 04:35:28 +0000

You’re so smart!