AIG gets 85 BILLION Dollar Bailout by Gov't.

Tousi said:
A little off topic here: If someone has over 100K, isn't it possible to just establish a second account at the same bank?
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definitely not off-topic at all. a very good question.. DM - can you answer this for us?
 
Talk about putting band aids on a dam that's in danger of bursting open :)
 
Tousi said:
A little off topic here: If someone has over 100K, isn't it possible to just establish a second account at the same bank?
Click to expand...

No... must different bank.

If your total assets in one bank such account like Checking, Saving, Investment, CD's are exceeding $100,000, then you are only insured up to $100,000 as total asset, not individual accounts.

If it was individual, everyone will do the same thing and create 2nd account and 3rd account. That will wipe out Government money completely. So its limited to one account as total assets.
 
Deaf Mortgage said:
No... must different bank.

If your total assets in one bank such account like Checking, Saving, Investment, CD's are exceeding $100,000, then you are only insured up to $100,000 as total asset, not individual accounts.

If it was individual, everyone will do the same thing and create 2nd account and 3rd account. That will wipe out Government money completely. So its limited to one account as total assets.
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ok so..... one account (as total assets) PER person or PER bank?
 
Deaf Mortgage said:
No... must different bank.

If your total assets in one bank such account like Checking, Saving, Investment, CD's are exceeding $100,000, then you are only insured up to $100,000 as total asset, not individual accounts.

If it was individual, everyone will do the same thing and create 2nd account and 3rd account. That will wipe out Government money completely. So its limited to one account as total assets.
Click to expand...

Yes, correct! I subscribe "Keep Your Assets" and they said the same thing as a best way to protect your assets that way. Also a financial expert on a tv show mentioned the same, too.

One full account (up to $100k) per bank, period! The lesser thus spreading to different banks, the better.
 
Banjo said:
You can keep patching a quilt, but it's not going to stop it from falling apart. So therefore, you have to keep patching and it'll end up looking ugly.

That's the big picture I'm seeing here.

The government has to stop bailing everybody out because it's not going to make it any better.
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And the consequence is, the taxpayers end up paying to get their money back under the government bailout. Having to buy back what is already theirs.
 
My government already save them, I think. Anyways, they did throw the money in the trash, then their money bank was already in the trash as gave and help them that Govt did that. It's my two cents. Our taxpayer is massive
wasted. Now I am angry with them! We are taxpayers who opposing gov't to save to bail them out.
 
web730 said:
Yeah, it's very absurd and unfair to the American taxpayers that is you and I!

Those greedy companies care none for the USA but themselves using tax money to rescue themselves out of their mega sinking holes.

I agree with you, Banjo that our government ought to stop. We are already too deep with the national debts!

Shame 'em big time! :mad:
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No, no! (angry with yelling with hands forcily waving wild) :mad:
 
McCain urges creation of agency to help weak financial institutions
Posted: 09:24 AM ET
(CNN) — Republican presidential candidate Sen. John McCain said Friday
morning he would establish a new agency to deal with the “immediate” economic
crisis.

That agency, the Mortgage and Financial Institutions trust, would work
with the private sector and regulators to identify institutions that are weak
and fix them before they go broke.

“The underlying principle of the MFI or any approach considered by
Congress should be to keep people in their homes and safe guard the life
savings of all Americans by protecting our financial system and capital
markets,” McCain told the Green Bay Chamber of Commerce in Wisconsin.

McCain said the agency would be an early intervention program to help
financial institutions avoid bankruptcy, expensive bailouts and damage to their
customers.

The CNN Wire: Latest updates on top stories - Blogs from CNN.com

A case of too little, too late. Why wasn;t McCain addressing these problems before they reached the crisis level? Because he was voting with Bush 90% of the time.
 
jillio said:
McCain urges creation of agency to help weak financial institutions
Posted: 09:24 AM ET
(CNN) — Republican presidential candidate Sen. John McCain said Friday
morning he would establish a new agency to deal with the “immediate” economic
crisis.

That agency, the Mortgage and Financial Institutions trust, would work
with the private sector and regulators to identify institutions that are weak
and fix them before they go broke.

“The underlying principle of the MFI or any approach considered by
Congress should be to keep people in their homes and safe guard the life
savings of all Americans by protecting our financial system and capital
markets,” McCain told the Green Bay Chamber of Commerce in Wisconsin.

McCain said the agency would be an early intervention program to help
financial institutions avoid bankruptcy, expensive bailouts and damage to their
customers.

The CNN Wire: Latest updates on top stories - Blogs from CNN.com

A case of too little, too late. Why wasn;t McCain addressing these problems before they reached the crisis level? Because he was voting with Bush 90% of the time.
Click to expand...

Use this link to specific where your source is...

The CNN Wire: Latest updates on top stories Blog Archive - McCain urges creation of agency to help weak financial institutions « - Blogs from CNN.com


Back to the point. If you put a frog in pot of water. Then turn on the heat. The frog will die before realizing its too hot and dangerous for his body.

Same with economy, how can we determine the result of action that was decided 10 years ago? We learn from our mistakes and begin to work at it.

When the last time we had financial bail out? Expensive bail out? McCain now suggesting that we should consider create service where they can be watch dog of financial. Making sure everyone stay on right track, especially big companies that impact thousands of employee and tens of thousand clients.
 
Hmm, wasn't McCain the one who advocated for less regulations?
 
Deaf Mortgage said:
Use this link to specific where your source is...

The CNN Wire: Latest updates on top stories Blog Archive - McCain urges creation of agency to help weak financial institutions « - Blogs from CNN.com


Back to the point. If you put a frog in pot of water. Then turn on the heat. The frog will die before realizing its too hot and dangerous for his body.

Same with economy, how can we determine the result of action that was decided 10 years ago? We learn from our mistakes and begin to work at it.


When the last time we had financial bail out? Expensive bail out? McCain now suggesting that we should consider create service where they can be watch dog of financial. Making sure everyone stay on right track, especially big companies that impact thousands of employee and tens of thousand clients.
Click to expand...

Are you comparing the Republicans to frogs? One would hope that they have more than a reptilian brain, although speculation has occurred to the contrary.

And how can we determine it? We have had clues for several years now. This fiasco did not occur overnight, for Heaven's sake!
 
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