STUPID

[R.D.]

OK..............in light of the "bailout program" there seems to be a mindset that the FDIC isnt going to be able to back up any funds? (this is not related to the Lounge thread at all)

was reading some news this afternoon & there is panic that peeps are pulling $$ out of banks now in fear of another Depression............well DUH.......wasnt the FDIC founded on what happened back then?


ok.....so I have a job....that job pays me....I put said money into a FDIC bank account.....that money is now insured to be there up to $100k.....................so whats to say that the Company that is payign me has that same insurance.............guess what......IT DONT.

found...............LOOPHOLE.


there was a jackass sayign that the FDIC can only isure money that was already there for a given time? What?............so if my job pays me $xxxx and I depesit that into my bank......but the bank that money is coming out of is not insured then I dont get my money...........right? cause most banks put a 10 day hold on funds till the check or funds clear itslef......so basically were just borrowing money from a peice of paper to pay bills with something that dont exist for 10 days.......Right?

So if that is the case.......doesnt that mean that the FDIC & other backed institutions are doing the same thing............Backign money that dont exist? Where does that money really come from.......How is that insured?

jsut makes me all warm & fuzzy inside thinking of it

[Beetle]

Ryan you are really tracking this aren't you? I don't blame you. I find it interesting and scary at the same time. I blame the lenders, borrowers, and the govt. for how this happened and how it's unfolding. I try not to dwell on it though. There are more important things in life for me to worry about right now. Such as a knuckleheaded 18 yo son (who knows everything) and a 15 yo daughter. Then to top it all off it's an election year. Scary uncertain times for sure!!!!

[R.D.]

YES


I agree with you though Brad(did I just say that ) on its not worth Dwelling on.........but there are WAY too many thing to think about in the process......Cost of living going up, price of food, etc......

but yeah............it wont do me any good cause there is not way I can really do anything about it..........just ride the wave & look after myslef I guess.

[Beetle]

I live within my means, I do not invest money (call me foolish if you want), save what I can, and NEVER buy things I can't afford!!!

[Tagg007]

Ryan, what people don't realize about the FDIC is its not governed by the Feds. Its a private insurance group that protects the banks. If there were a "run" on the banks they are only required to pay a certain amount on the dollar up to a 100K. Now, if you have a annunity from an insurance company, the state of kansas requires the company to match $1 to every $1 you put in and that money goes into a fund in case the company goes bankrupt. Your principle is fully protected up to a 100% of principle not interested earned.

[R.D.]

Right...............I understand the priciple vs interest thing........there is nothing there to protect that......but its just merely a gamble in most cases...........other than that.......its still jsut on Paper or on a screen................we really dont see where or how any of this "Money" is really produced do we?

there was other talk of the Federal Reserve...........Whats that going to matter.....NOTHING........its not my money in there & if the Goverment desides to not release any $ from the reserve.....they just wont.

[Tagg007]

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by tritonryan &raquo;</TD></TR><TR><TD CLASS="quote">Right...............I understand the priciple vs interest thing........there is nothing there to protect that......but its just merely a gamble in most cases...........other than that.......its still jsut on Paper or on a screen................we really dont see where or how any of this "Money" is really produced do we?

there was other talk of the Federal Reserve...........Whats that going to matter.....NOTHING........its not my money in there & if the Goverment desides to not release any $ from the reserve.....they just wont.</TD></TR></TABLE>

yep, that's about it.

[Jiggernaut]

Bailout deafeated. Market down 560 points.

[R.D.]

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Jiggernaut &raquo;</TD></TR><TR><TD CLASS="quote">Bailout deafeated. Market down 560 points. </TD></TR></TABLE>




so much for there "Idea" as to what the market was going to do today

[R.D.]

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Jiggernaut &raquo;</TD></TR><TR><TD CLASS="quote">Bailout deafeated. Market down 560 points. </TD></TR></TABLE>


YEP....................went to -777 at end supposed to go about the same come tomorrow.....but who knows...............maybe someon will get rich quick and just BUY BUY BUY

[catchatoad]

Ryan - stop worrying about the market.... it will come back... but probably not until after the election.

[bigfishingstud]

Damn Boy , calm down,, have a drink, the skys not falling YET

[hooks2bset]

[R.D.]

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by bigfishingstud &raquo;</TD></TR><TR><TD CLASS="quote">Damn Boy , calm down,, have a drink, the skys not falling YET </TD></TR></TABLE>

its not my SKY..............its my Dads...............he aint gonna have nothing left to give me if he dies now.......gotta keep him on life support a bit longer now I guess

[Jiggernaut]

Attn Kmart shoppers. There are a number of blue light specials available.

[R.D.]