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Post by sunny225 on Aug 11, 2023 16:30:23 GMT
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Post by Ozarks Tom on Aug 13, 2023 0:26:31 GMT
Oh, just a little housekeeping being done by the "too big to fail" banks with huge influence over the ratings companies. Those pesky little banks and their cumulative assets in the hundreds of billions need to succumb to the big banks where there's "real money" to be made. Like SVB they can be bought for pennies on the dollar once they've been declared insolvent, and their cash assets offset the big banks huge unrecognized losses in T-bills.
It would be interesting to know how much Goldman-Sachs has in unrecognized losses tied up in treasury notes, I'd bet a trillion or so.
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Post by fixitguy on Aug 13, 2023 0:40:27 GMT
Associated started charging high fees a few years ago. They want a $5000 minimum balance on a business checking account or get jabbed $25 per month if it falls under the $5000.
I have a friend that was a loan officer at one branch, she said accounts were getting closed like crazy when they started charging huge fees.
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Post by woolybear on Aug 15, 2023 22:39:07 GMT
Fulton Financial Corporation is my bank and I have to say that I'm pretty PO'ed with them. They bought out some bank in Philadelphia Pa. (maybe the Bank of Phila.?) I felt like they had absolutely no business buying out a bank that was struggling/sinking/bankrupting. I have a nice chunk of change at Fulton and now have to figure out what I'm going to with it and where I'm going to move a large portion of it. I can't move it to the credit union I'm interested in because sometime this fall I will receive another chunk of change and I want to put it in that credit union. So now I guess I'll have to start researching banks and credit unions to find ones that will fit my needs.
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Post by sunny225 on Aug 16, 2023 0:18:23 GMT
Our "chunk of change" is not in a bank nor a credit union.
When this can has been kicked as far down the road as it can be, any money anywhere besides in my hot little hand won't be mine.
We pay our bills out of our account, leave enough in it to buy groceries & whatever else we will need for the next 3 to 4 weeks. The rest comes out just as soon as we get up there to get it.
We are in the process now of figuring out what is needed - big ticket items - that we should spend that money on before we can no longer get them. And before that money is no longer usable.
YMMV
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Post by Ozarks Tom on Aug 16, 2023 1:41:13 GMT
I just don't know, in spite of the assurances that "Bidenomics" is the greatest thing since sliced bread, or the movie The Unforgiven, I still have my doubts. I like the idea of credit unions mainly for the fact that they're not tied to a major banking conglomerate, but still insured to a point. Like sunny225, we keep minimals in our accounts to cover bills and known expenses. The overage is buried under the weeds in our garden (PM me for directions). There's a reasonable thought that precious metals will be more valuable in times of crisis than fiat dollars, as they've been recognized as having value against other commodities throughout recorded history. Might be something worth considering. |
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Post by woolybear on Aug 16, 2023 13:16:47 GMT
I've been slowly dabbling in PM's, it may be time to up my game.
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Post by daw on Aug 16, 2023 15:18:00 GMT
Could wonder how many of these failing banks are Biden slaves.......
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