cj Posted September 26, 2008 Share Posted September 26, 2008 i wouldnt keep it in a bank either! if you are going to have a mass amount of savings id keep it in cash in a safety deposit box somewhere or in a shoebox under my bed Except anything under $100K is FDIC insured... i'm canadian i dont know what FDIC is... im guessing some federal department of currency of some type, but if worse comes to worse anybodys money in a bank can be used... im not one of those bank phobic people but shit is getting bad and who knows what might happen Quote Link to comment Share on other sites More sharing options...
sgoodcore Posted September 26, 2008 Share Posted September 26, 2008 Except anything under $100K is FDIC insured... i'm canadian i dont know what FDIC is... im guessing some federal department of currency of some type, but if worse comes to worse anybodys money in a bank can be used... im not one of those bank phobic people but shit is getting bad and who knows what might happen People making a run on the banks would be very, very bad. That's what caused the great depression in part and spurred the creation of the FDIC. Quote Link to comment Share on other sites More sharing options...
¯\_(ツ)_/¯ Posted September 26, 2008 Share Posted September 26, 2008 things are pretty shitty right now but people need to calm down a bit and realize that this isn't the first time the economy has gone down hill. exactly. its like none of you remember the 1987 crash, which is kinda similar in todays situation, you just replace the liquidity of stocks from the 1987 crash with the liquidity of sub prime mortgages in todays crash. either way, all this does is weed out the bad legs of the economy and when it rebuilds itself back up, like it always has, safegaurds against these crashes are put in place. Quote Link to comment Share on other sites More sharing options...
cj Posted September 26, 2008 Share Posted September 26, 2008 things are pretty shitty right now but people need to calm down a bit and realize that this isn't the first time the economy has gone down hill. exactly. its like none of you remember the 1987 crash, which is kinda similar in todays situation, you just replace the liquidity of stocks from the 1987 crash with the liquidity of sub prime mortgages in todays crash. either way, all this does is weed out the bad legs of the economy and when it rebuilds itself back up, like it always has, safegaurds against these crashes are put in place. yeah, like fannie mae and freddie mac Quote Link to comment Share on other sites More sharing options...
xfedaykinx Posted September 26, 2008 Share Posted September 26, 2008 fuck these asshole making money off heading failing companies... "the company's [WaMu] new chief executive, Alan H. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus, according to an analysis by James F. Reda and Associates. WaMu was not immediately available for comment." http://www.nytimes.com/2008/09/26/business/26wamu.html?hp Quote Link to comment Share on other sites More sharing options...
mediocore Posted September 26, 2008 Share Posted September 26, 2008 fuck these asshole making money off heading failing companies..."the company's [WaMu] new chief executive, Alan H. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus, according to an analysis by James F. Reda and Associates. WaMu was not immediately available for comment." http://www.nytimes.com/2008/09/26/business/26wamu.html?hp Be pissed at Kerry Killinger then... he's the one who drove WaMu into the ground, not Fishman. Quote Link to comment Share on other sites More sharing options...
xfedaykinx Posted September 26, 2008 Share Posted September 26, 2008 yeah, i understand this, but should bro really be entitled to $11.6 million in severance for three weeks of work, after already getting a $7.5 mil signing bonus? im just imagining what guys who have CEO'd for years are going to have worked out. i remember when some guy got fired from Home Depot and got $500,000!!! i mean come the fuck on! Quote Link to comment Share on other sites More sharing options...
akross Posted September 26, 2008 Share Posted September 26, 2008 i'm canadian i dont know what FDIC is... im guessing some federal department of currency of some type, but if worse comes to worse anybodys money in a bank can be used... im not one of those bank phobic people but shit is getting bad and who knows what might happen People making a run on the banks would be very, very bad. That's what caused the great depression in part and spurred the creation of the FDIC. It is starting to happen. My wife works at a bank and her branch had a massive influx of people pulling money yesterday. Crazy shit. Quote Link to comment Share on other sites More sharing options...
¯\_(ツ)_/¯ Posted September 26, 2008 Share Posted September 26, 2008 yeah, i understand this, but should bro really be entitled to $11.6 million in severance for three weeks of work, after already getting a $7.5 mil signing bonus? im just imagining what guys who have CEO'd for years are going to have worked out. i remember when some guy got fired from Home Depot and got $500,000!!! i mean come the fuck on! yeah, he should be entitled to it, because he was offered that to take the job, its not his fault they're falling apart. If you were told you'd get paid x amount of dollars to work a job only to find out 3 weeks in it was falling apart, would you really give the money back? I highly doubt it. Quote Link to comment Share on other sites More sharing options...
xfedaykinx Posted September 26, 2008 Share Posted September 26, 2008 im not talking about the signing bonus. im talking about the ungodly amount of the severance. Quote Link to comment Share on other sites More sharing options...
mediocore Posted September 26, 2008 Share Posted September 26, 2008 People making a run on the banks would be very, very bad. That's what caused the great depression in part and spurred the creation of the FDIC. It is starting to happen. My wife works at a bank and her branch had a massive influx of people pulling money yesterday. Crazy shit. People are so ill-informed it's scary. This largely contributed to the timing of the WaMu failure too -- customers pulled something like $16.7B over the last several weeks. Quote Link to comment Share on other sites More sharing options...
murakami Posted September 26, 2008 Share Posted September 26, 2008 im not talking about the signing bonus. im talking about the ungodly amount of the severance. here is to hoping i get a large severence myself. at work, we put our fantasy football proceeds in company stock.....the 12 people, 40$ buy in is now worth a total of 16$ Quote Link to comment Share on other sites More sharing options...
skanknsmile Posted September 26, 2008 Share Posted September 26, 2008 even though I'm out of debt, this is really horrible news for a recent college graduate. I have to find a job in this mess? Awesome. Quote Link to comment Share on other sites More sharing options...
mcm1610 Posted September 26, 2008 Share Posted September 26, 2008 I pulled my money out of the bank to pay rent, and out of investment to afford school. It looks like I'm one of those panicking idiots, but I'm just dirt poor instead. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.