DISQUS

AMERICAblog: What everyone should know about FDIC insurance

  • LasloPratt · 1 year ago
    Thank God I'm already broke and don't have to worry about this!
  • KerrynowCampau · 1 year ago
    If I had that kind of cash I would be buying euros

    I would not let it rot in a bank
  • A_N · 1 year ago
    There's one bank in the USA that lets you open an account AND have it denominated in Euros. www.everbank.com

    I'm not kidding. Or in Swiss francs if you prefer. Click on the Investing tab and hit the link for Foreign currencies. They claim that their foreign currency accounts are FDIC insured....
  • KerrynowCampau · 1 year ago
    Thanks for that link!! Now I just need to come up with the $10,000 minimum.

    Hmmmm....maybe I can persuade my significant other to invest.....
  • A_N · 1 year ago
    It's $10,000. for a CD but only $2500. for a savings account (which probably doesn't pay any interest though). Or at least $2500 was the minimun last time I checked.
  • KerrynowCampau · 1 year ago
    Well $2500 is doable!! I wouldn't care about interest. I think with our upcoming inflation, the value retained by the euros would outweigh the pathetic interest rates that most bank pay.
  • A_N · 1 year ago
    They call it a WorldCurrency Access Deposit Account.
  • Bush_Bites · 1 year ago
    I'm not good on money exchange stuff.

    But is paying worthless dollars for valuable Euros good right now?

    I mean, can the dollar keep going down and Euro keep going up forever?

    ?????
  • KerrynowCampau · 1 year ago
    I wouldn't put all my eggs in one basket, but I just want to retain the value of what I have. You are probably correct in that the dollar won't be going down forever but it will be for the foreseeable future.

    Analysis: Blame the dollar

    http://english.aljazeera.net/focus/2008/06/2008...
  • A_N · 1 year ago
    You have a valid point. It all depends on WHEN you think (if ever) that the USA $ will regain some of it's lost value versus a different currency.

    I also forgot to mention that there is 3/4 of 1% currency exchange fee charged when you go from dollars to something else and that charge again to get your money back into USA dollars.

    Of course I've seen the dollar drop nearly that much in a day versus the euro.

    Personally I don't think the value of the dollar will go up much versus the euro until the Dems regain the presidency and control of congress (if then). But your opinion on that may point may differ.
  • Indigo · 1 year ago
    The filthy rich and the unwashed poor have nothing to fear. For the rest of us, it's already too late to worry.
  • Ben Dover · 1 year ago
    Whew! That was close. I could go over the limit any day now according to my Atari calculator.
    Oh wait, got the silly decimal point in the wrong place. Now it appears I won't have to worry about reaching the limit until my next lifetime.

    Lucky me, I swear I thought I was this close <--->!
    I have got to pick better PowerBall numbers...
  • Soundboy_jeff_meanie · 1 year ago
    I'm suprised people with more than $100,000 don't know this...

    I mean, even I know its $100k per different bank (not branches of the same bank)... and I'm overdrawn half the time because I live paycheck to paycheck.

    the other strange thing here? people used to put tons of money in banks because it was considered a risk-free way to grow your money... now that interest rates have gone way down, your money is just in storage. It isn't growing anymore.
  • Bush_Bites · 1 year ago
    It's actually losing value because of inflation.

    (I know you know that, but others might not.)
  • OlderAndWiser · 1 year ago
    I keep less than $100 in the bank, since they sold it to Fifth Third.

    BTW, the FBI raided the Wachovia Securities office in MO today...more to follow.
  • Fireblazes(CheetohsandCatfood) · 1 year ago
    So if you can lose so much of what you own, why can't you lose your debt as equally. Seems only fair...
  • ndtovent · 1 year ago
    Exaclty!! Totally agree.. LOL
  • jr · 1 year ago
    "deregulating banking, what's the worse that could happen?"-repubs
  • TimRusso · 1 year ago
    question for A-listers in Austin.....when are you guys gonna start raising money for Barack on your front page?

    http://bloggerinterrupted.com/2008/07/question-...
  • Bush_Bites · 1 year ago
    Good point.

    Our money's just losing value anyway.

    Let's put it on Barack!
  • ndtovent · 1 year ago
    Good info, Chris, but as a couple of earlier posters commented -- anyone with that kind of money should know this. It's amazing that some don't. However, I didn't know that an IRA could be counted as a separate account insured w/the same bank until I read that article. Not that I have to worry. Mine is nowhere near that.
  • Bush_Bites · 1 year ago
    I never keep that much in the bank.

    I put extra money in the market.

    Of course, with the Dow sucking wind, I'm losing there too.

    Lose-Lose?
  • FunMe · 1 year ago
    I love how she keeps it simple and to the point.
  • tbhull · 1 year ago
    What happens if the FDIC runs out of money? How much capital does the FDIC have?
  • A_N · 1 year ago
    When the FDIC runs out of money, they'll get more money only it will be from your Tax dollars. The FDIC is backed by the full faith and credit of the USA government.
  • tbhull · 1 year ago
    The biggest fucmkikng joke lately is the "full faith and credit of the USA government".
  • tbhull · 1 year ago
    Reply retry:

    The biggest fucking joke lately is the "full faith and credit of the USA government".
  • Wisconsin Liberal · 1 year ago
    Jim Cramer of CNBC was on Hardball the other day and said that of the banks he feels are in trouble, the FDIC is on the hook for 1.2 TRILLION DOLLARS!!! He was just and said TAXES should be raised on the RICH to cover this!