Comments on: Could the FDIC Go Broke?

By: AnnieCollier

AnnieCollier — Fri, 06 Mar 2009 21:08:56 +0000

Larry, does that mean CD’s need to be cashed out at maturity?

By: Victor

Victor — Fri, 06 Mar 2009 15:43:07 +0000

Credit unions’ deposits are not insured by the FDIC. Instead they are insured by the National Credit Union Administration (NCUA). Therefore CUs wouldn’t be subject to the new higher assessments from the FDIC. Secondly, CUs exist to serve the banking needs of their members. As such they are prohibited from investing in a lot of the things that are causing the banks grief.

By: to77

to77 — Fri, 06 Mar 2009 05:01:31 +0000

I love how everyone likes to give Clinton credit for the balanced budget when it was the Repub. congress that dragged him there kicking and screaming. The dems are the ones that claimed a balanced budget is unimportant. It helps to know history, unless it gets in the way of your ideology.

http://www.cnn.com/US/9512/budget/budget_battle/index.html

http://query.nytimes.com/gst/fullpage.html?res=9C04E1DA123AF937A35757C0A96E958260

http://people-press.org/report/133/clinton-ratings-hold-balanced-budget-a-public-priority-but-few-see-personal-payoff

By: nancy

nancy — Fri, 06 Mar 2009 04:01:24 +0000

MEanwhile…The Federal Reserve refused to tell Congress who got $2 Trillion in Bailout Money!
SEE THE MONEY MASTERS here:
http://www.poorrichardsalmanac.biz
Learn the truth about the Federal Reserve!

By: to77

to77 — Fri, 06 Mar 2009 03:40:18 +0000

Why does it matter who is “at the helm”, as congress you don’t even have to bring the presidents budget to the floor. I think that is a foolish extrapolation. Bill Clinton was working with a Republican congress that restrained his spending. Clinton ALWAYS proposed more spending then congress allowed.

By: LK

LK — Fri, 06 Mar 2009 03:38:07 +0000

ummm, der shrub???????? I love W, but that is a laugh out loud. heeheehee

By: cynic

cynic — Fri, 06 Mar 2009 03:23:25 +0000

If dollars are soon to be worthless, why is everyone hanging on to them? Why aren’t they exchanging them for goods? There doesn’t seem to be a big run on the retail stores, even though prices are low.

And if gold can only go up while dollars are going down the tube, why are people so eager to exhange their gold for your dollars?

By: trixta

trixta — Fri, 06 Mar 2009 03:19:42 +0000

Guess it matters who is at the helm. Didn’t Bill Clinton leave us with a trillion dollar surplus?

Because we had GWB, we now have BO. Different puppets, same puppet masters.

By: trixta

trixta — Fri, 06 Mar 2009 03:14:44 +0000

Why didn’t we hear about the impending economic meltdown before Sept 2008?

By: beebop

beebop — Thu, 05 Mar 2009 21:40:23 +0000

thought I heard her say that but she too was guessing.

Is there some part of that that makes you feel more comfortable that it comes straight from the FDIC? You do understand that the FDIC raised its fees to avert the insolvency? The member banks now pay more. Whether you were a “good” or “bad” bank. Why are you commenting about things that — and I hope you will take this in the spirit in which it is intended — clearly clueless about? I don’t understand it myself, but I can use google and put two and two together …. Rush (or his staff) has access to the information as well. He’s reading it on the air. And thank GOD. Google news thinks the most pressing “news” is college basketball scores ….

By: to77

to77 — Thu, 05 Mar 2009 21:27:14 +0000

Here is an interesting note:
2006 (after 6 years of Bush and Repub. congress)-Unemployment:4.50%, Annual Deficit spending: $200 billion, Accumulated Fed debt: 8.5 trillion

Democrats take control of the House and Senate (where finances bills come from)

2009 (after 2 full years of Dem. control)
Unemployment:7.60%, Deficit Spending:$1.7 trillion, Accumulated Debt:12.7 trillion.

with 2010 projected to be even worse. funny how it is easy to blame Bush and act like the Dems were innocent bystanders or powerless to do anything. They controlled congress at a time when the president had approval rating in the 30% range. What did they do? exactly what they are doing now. make things worse.

By: Doc99

Doc99 — Thu, 05 Mar 2009 20:52:30 +0000

Mr. Doyle, The Tribe Has Spoken.

By: patm

patm — Thu, 05 Mar 2009 20:22:13 +0000

I read on another blogpost that AIG is getting all of this money because AIG is the one that holds all of the 401K’s, etc. for Congress. Don’t know if that is true but that would make sense why everyone says they “can’t let AIG fail”. It’s worth looking into and raising holy h*ll if true.

By: to77

to77 — Thu, 05 Mar 2009 20:14:35 +0000

i dont understand. The FDIC which secures all of our money’s at $50 billion was secure, didnt we just spend $800 billion in a “stimulus” bill, wouldnt designating $25-50 billion to the FDIC to secure everyone’s money make more sense then spending it on expanding Pell grants?

By: huh

huh — Thu, 05 Mar 2009 20:07:00 +0000

Credit Unions MIGHT be better bec they usually only handle accounts for a certain industry types. Usually larbor types. They have strict rules and did not play games. My CU offered me a home loan but they wanted 25% down! (ya, ok) In my neck of the woods that would amount to $75,000 – 80,000. Need less to say they do not have much mortgage exposure………