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Offline torpedoman

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bank failure
« on: July 15, 2008, 06:45:31 PM »
washington mutual failed and it is'nt in the news that I know of, Would not have known except a buddy lost a bit of money on the deal. You may wish to check the pulse of your bank.
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Offline beemanbeme

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Re: bank failure
« Reply #1 on: July 16, 2008, 05:36:51 AM »
Back in the 70's, during that housing collapse, several banks in Okla went under.  To my knowledge, none of the depositers actually lost money.  How did your friend lose money?  Often another bank will buy the sinking one.  I THINK the way it works is the buyer gets the assets and the liabilities and the FICA (you and me) makes up the difference. The assets may be frozen for a few days during the transition but then it's biz as usual. I had a friend that went thru 3 banks that way.
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Offline TribReady

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Re: bank failure
« Reply #2 on: July 16, 2008, 05:52:21 AM »

.
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Offline torpedoman

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Re: bank failure
« Reply #3 on: July 16, 2008, 01:23:33 PM »
He had over the insured amount in the bank. I offered to trade problems with him LOL
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Offline beemanbeme

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Re: bank failure
« Reply #4 on: July 17, 2008, 05:53:06 AM »
That is bad news.  I would never have to worry about something like that happening to me however.
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Offline AtlLaw

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Re: bank failure
« Reply #5 on: July 17, 2008, 08:28:57 AM »
Did anyone hear that Wachovia was on the verge of going nipples north?
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Offline Graybeard

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Re: bank failure
« Reply #6 on: July 17, 2008, 08:55:10 AM »
Quote from: AtlLaw on July 17, 2008, 08:28:57 AM
Did anyone hear that Wachovia was on the verge of going nipples north?

Say it ain't so I've been toying with the idea of putting my massive banking business with them. Perhaps I need to hurry up and do so in time for it to pull them out of any financial morass they may be in.  ;D
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Offline AtlLaw

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Re: bank failure
« Reply #7 on: July 17, 2008, 09:20:03 AM »
Quote from: Graybeard on July 17, 2008, 08:55:10 AM
I need to hurry up and do so in time for it to pull them out of any financial morass they may be in.  ;D

Please do so!!   :o  Pull them from the brink of oblivian!  If they go under they'll sell the paper they hold on me and my rate might go up!!! :-\
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Richard
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