Move your money
 

:tro:

I did'nt see my bank listed :o

http://www.fdic.gov/bank/individual/.../banklist.html

List of failed banks. Virtually everyone was a community bank.

My preferred bank wasn't listed as well and I know they are in good shape. They are not affiliated w/any major company and that seemed the case with most of the banks that popped up.

I've moved mine to the Bank of Clyde International ;)

Smart move ;)

Credit Unions...

Huffington just exposed the true motive of the site on CNBC. It is nothing more than the bashing of Bank of America, Wells Fargo, Citibank et al. Something to do with her believing capitalism and free markets help Wall Street and not Main Street. :zz: and 100 million people will change the banking system and regulation not the government. lol

Geesh, that is not some secret :p The sole purpose of the site existing is to do exactly that, and that is explained on the site ;)

:zz: You have it misstated it backwards. Her stated belief is that free markets and capitalism - the public taking their money away from banks that have screwed us, and giving it to local banks that do not - will help Main Street, us - and not Wall Street

From the site: "JUST BEFORE CHRISTMAS, a few friends were having dinner wondering what personal actions they could take to help limit the power of the big banks and create a more sane, stable financial system. How, they wondered, could they help end the era of Too Big To Fail? The financier at the table recommended that everyone could move their money out of the Wall Street banks and into community banks. Community banks are typically more conservative about how they manage their money, they’re more closely connected to the people and businesses who live near them, and they’re more inclined to make loans they know will get paid back. In other words, they have the values that more people would want banks to have."

Credit unions are the way to go for credit cards as well.

I think you do have to watch them before you sign on, however - they can act just like the big impersonal banks as far as drowning you in fees, restrictive lending policies, etc.

we only have used a credit union for years now, both checking and savings, loans as well. no complaints.

and here I've been mistaken all along. I thought you supported Obama and his bailout out of banks to big to fail? I know you've been mum on the Fannie and Freddie 'night before Christmas' gifts but I'm sure you must have been against that decision as well. My Bad! Happy New Year!

why do you think that is?

It is Bush's or Mike Leach's fault.

I think they are the same person....or at least they deserve each other:zz:

I'd take Mike Leach in a second at AZ. He is a great coach who made the mistake of not taking that kids scholarship when he showed his ass the 1st time.

He is a great coach?..He is a pompous ass with good players...Hopefully ND will fire Kelly soon so he can go lock a few Catholics in a closet

The small banks have the chips stacked against in a massive way. Before you even start, overhead is bigger simply because of scale. The only way a small bank stays in business is by doing the business the big banks don't want to do. The more stable clients want higher yields on their deposits and dirt rates on their loans so the spreads are thin. The riskier deals...the ones where you can actually make a profitable spread...are deemed risky for a reason. Maybe its a commercial loan for a new office building going up or maybe its a small business loan. Either way, the small bank is really the only game in town.

A bank has to maintain a certain ratio of deposits to outstanding loans. With the hysteria, people are moving their money out of the small banks and into the "safer" bigger banks and, lets face it, some of these loans are going bad. Add it all up and it equals an insolvent bank. Its not like the small bank took these loans or are taking them currently with greed in mind. Its simply survival.

Its a mess...and its only going to get worse. It isnt bush's fault or Mike Leach's fault and it certainly isnt Obama's fault right now. I read all of these posts in this section about inflation and I just have to laugh. When loans default and businesses go down and banks aren't lending, wouldnt that set up for a deflationary environment?

Yeah sure, he is just a product of that formidible Texas tech recruiting machine.... seriously the guy is an excellent coach who has turned a 2nd rate program into a nationally prominent one despite having had very few NFL prospects. His offense has had 3 seperate QB's win national awards despite none of them getting a sniff at the NFL. He has won as many bowl games in his 10 years as TT had in its previous 60. In 2008 they were the 8th ranked school in graduation rates with 79% of players graduating with a degree. He was 84-43 at Texas tech with 5 bowl wins in 10 years. That is a great coach.

hey you wanted to be a banker....

I want to be a horse trainer! I have nothing but envy and admiration for you in that regard.

Cheers!

It is great in many ways but can be horrifically frustrating and financially challenging at the best of times...

You probably liked Bobby Knight too