DISQUS

Blown Mortgage: Why you should be worried about deposits even if they’re FDIC insured

  • Don · 1 year ago
    Anthony, I get it more than you know. Most of my friends are out of work.

    I "got it" when these loans were coming across my desk 6 years ago thank you.
  • Anthony Citrano · 1 year ago
    O'course by not getting it I meant they may not get their money. But I hear ya, Don.
  • Don · 1 year ago
    The link worked for me. Thanks Anthony. I love your reply on your blog. I really doubt that the average American realizes what dire straits we are in. Everything seem undercapitalized. We may be lucky and barely avert disaster.

    On the other hand.......yes, I'm beginning to sense what my grandparents felt after the Crash of '29.
  • Anthony Citrano · 1 year ago
    And in my opinion you may not necessarily get it at all. I wrote about this a few days ago - the FDIC may spend a full 15% of their cash on this one bailout, and there are many more to come:

    http://www.cosmictap.com/fdic-fright/
  • morganb · 1 year ago
    great point Anthony. The FDIC is woefully under-capitalized. what's
    your blog anthony? please share it with us!
  • Anthony Citrano · 1 year ago
    Links no workie?
  • Aaron Fischer · 1 year ago
    Its just like the DMV, when has the government ever dealt with any thing efficiently. Especial in the last 8ish years?
  • jbflory · 1 year ago
    I think we have to accept a couple of very simple facts:

    1. Government cannot run anything efficiently - period. I defy you to show me one instance where it's happened.
    2. There's no value in expressing surprise or shock when they don't and in fact it's counterproductive to any sort of progress.

    Peter appears only to be stirring the hornet's nest on this one and instead of decrying the deplorable 'customer service' of the federal government (an oxymoron if I ever heard one), he should be encouraging those who don't NEED their money to relax and let the system work. Fomenting unrest amongst an already skittish depositor base is irresponsible at best.
  • Eric Ogunbase · 1 year ago
    The government runs the IRS and the Divisions of Parking Enforcement VERY efficiently. Of course those are money collecting arms. But think about it...those meter maids are like ticket ninjas. You don't see them, but you know they were there.
  • morganb · 1 year ago
    ticket ninjas - i love it. so true too!
  • jbflory · 1 year ago
    Well put well said, Eric! I stand corrected. The government is very efficient at taking your money away from you.
  • morganb · 1 year ago
    jb - exactly. collecting has never been a problem. administering
    seems to be another matter all together.
  • Don · 1 year ago
    Got it, thanks Anthony.....
  • Sue · 1 year ago
    I'm concerned that many more banks will go under and there will not be sufficient funds to cover losses. Here in Des Moines, IA. we've had a small bank offer good rates on CD's with bank officers stating that you are insured even over the $100K, if you include an IRA .