Originally Posted by
Ajax Knucklebones
Just keep in mind (Although I don't know how true) it was stated in the newspaper today that 98% of the banks are working at an O.K. level and only 11 out of 1500 banks have been shut down this year. Out of this 11, only IndyMac was truly "taken over" by the FDIC because it was a medium sized bank. All the other banks where the FDIC moved in on, were sold to the highest bidder...The same day that FDIC moved in. I think the REAL big problem to be honest is the media hyping up the problem. Not to say the economy doesn't suck...It does, but the media makes it sound like all banks are going down the shitter, which that I know is not true. I live in Florida. So far Florida, California, and Arizona is the real hot spots because that's where housing prices had increased the most before this debacle and where so many people invested in housing, yet, still, only one bank in Florida has since shut down. That bank had 8 branches which, in the banking world, equates to a small fucking bank. Yet, the local newspaper makes it sound like all the banks in Florida are troubled. Also not true. I have no problem with people moving their money around to different institutions to be covered by the FDIC. Shit...They should have been doing that all along...Way before this mess. The problem I have is the media making it sound like it's better to keep your money under a mattress. THAT is what put's people in a panic and sorry, but banks are just not at that level yet. Not even close yet.
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