This is scary. They are running out of money to cover FDIC accounts

In your shoes.

it was a sure thing imho, the only question was when. check that they've been offering all types of guarantees on possible losses to those that took in the failed banks.

and the recent relaxation of standards for pe firms to buy the shit banks....

great idea...as tho relaxed standards werent the cause of this shitstorm in the first place

tryinmg to continue to like bair...challenging

"Where do you put your money & keep it safe?"

In real estate. My broker tells me it only ever goes up!

(hehehehe)

"Maybe Grandma's under the mattress theory was correct."

No, it wasn't. Not as long as we have a central bank (Federal Reserve) to screw around with the value of our dollars vis-a-vis inflation.

Suppose Grandma scrimped and saved and stashed a total of $10,000 in her mattress back in 1930, and left it there until her grandson - we'll call him "Alan" -- discovered it today.

Back in 1930, that money was worth in today's dollars over $123,000 -- or roughly three years' earnings for the median family. Today, however, it's now worth only ... $10,000. Thanks to inflation, its value has diminished by more than 90%.

fdic will be bailed out

well...once again you are an idiot. supposing she had put the money in a bank that subsequently failed as many did in the 30's. how much would there be then?

"As the economic depression deepened in the early 30s, and as farmers had less and less money to spend in town, banks began to fail at alarming rates. During the 20s, there was an average of 70 banks failing each year nationally. After the crash during the first 10 months of 1930, 744 banks failed – 10 times as many. In all, 9,000 banks failed during the decade of the 30s. By 1933, depositors saw $140 billion disappear through bank failures."

Idiot.

She should've kept it in her shoes. Then Alan would have gotten his grubby hands on it in the late 1960s, when it still would've been worth something.

I assume you're speaking from experience.

CC, I didn't say anything about Grandma putting her money in a BANK.

Idiot.

you are ridiculous. if she didn't put it under the mattress, where would she have put it? in a jar?

Matt, did you have your "Yes." thread removed? Pity, because it contained the only rational statement you ever made on Streeteasy.

fav from matt: "hi, matt here, board vp."

That's what the patch on his overalls says.

I think maybe I'll put some of my out of work friends together and we'll go buy one of these banks.

First National Bank of Yahooville. We're bound to do a better job at running it than the folks who've been in charge till now.

Go for it Graffiti!

Graffiti, i nominate myself as an independent director for your bank's board. hope Bernie doesn't consider that hanging out at SE's board makes me dependent...

if only Bernie would position his helicopter right on top of me... why does it have to be GS all the time? :-)

admin, very funny. i have this vision of bernie in his copter with his aeriel gps looking for GS employees and counterparties. just a second, pilot, not yet, wait a second, NOW!! open the damn hatches, we're about to miss one.

gg, there are a number of banks that would only be blessed by your presence. fresh blood. can't do worse than old blood. although you do have to think they're getting a raw deal for doing the same thing as the too big to fail banks did, but not being too big to fail. but maybe that's better than being Vikram these days. what a chiti job. dealbreaker has even quit making fun of him.

http://74.125.113.132/search?q=cache:UGipJF1e9BsJ:online.wsj.com/article/SB10001424052970204731804574385072164619640.html+fdic+bailout&cd=2&hl=en&ct=clnk&gl=us&client=firefox-a