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Check out this loophole-50ml FDIC insured - 11/18/2008 5:03:37 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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http://www.cdars.com/how-cdars-works.php

the way to get around the $100k limit per bank insurance - what a racket. I wonder what the other tricks are for jamming the grid.

so even an individual can have 50 million $ insured this way. But- who would use this- in that it rather sounds like a directive of sorts.

there are suppose to be bank runs in February.

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RE: Check out this loophole-50ml FDIC insured - 11/18/2008 7:57:18 PM

subrob1967

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The FDIC insurance is a joke anyway, what they don't tell you is, the government has up to TWENTY years to make a payment to you, and then another TEN years to completely pay the account off.

Do you have 30 years to wait for your money?

(in reply to pahunkboy)

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RE: Check out this loophole-50ml FDIC insured - 11/18/2008 10:02:42 PM

DomKen

Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
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quote:

ORIGINAL: subrob1967

The FDIC insurance is a joke anyway, what they don't tell you is, the government has up to TWENTY years to make a payment to you, and then another TEN years to completely pay the account off.

Do you have 30 years to wait for your money?

I'm not sure where you got this. It isn't in any regulation or law I could find. The law establishing the FDIC requires payment of insured accounts "as soon as possible." Historically it is usually a couple of days after the banks failure that insured deposits are available either from the FDIC or a new bank that has taken over the failed banks deposits. I couldn't find any instance where an insured account wasn't available after 5 business days.

(in reply to subrob1967)

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RE: Check out this loophole-50ml FDIC insured - 11/18/2008 10:14:44 PM

MrRodgers

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Joined: 7/30/2005
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quote:

ORIGINAL: subrob1967

The FDIC insurance is a joke anyway, what they don't tell you is, the government has up to TWENTY years to make a payment to you, and then another TEN years to completely pay the account off.

Do you have 30 years to wait for your money?

Not exactly true. The FDIC 'makes whole' the institution that acquires the offending (socialists) bankers (the insured). The combination of which means depositors now up to $250,000/per...never loses a penny all at the expense of the taxpayer.

Think about it kinkroids...we insure our own bank deposits. Money is always fungeble. The money that need not go into reserves to make good on ALL deposits is free for bonuses and dividends.

(in reply to subrob1967)

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RE: Check out this loophole-50ml FDIC insured - 11/18/2008 10:36:41 PM

MrRodgers

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quote:

ORIGINAL: pahunkboy

http://www.cdars.com/how-cdars-works.php

there are suppose to be bank runs in February.

Why February ? I thought we were already supposed to be in a 'bank' panic...everybody making a run on their banks. I mean...aren't you in a panic...look'n for your next meal maybe ?

Please kinkroids get a grip. This whole thing has been manufactured by the bankers and paper-traders whose last roll of the speculative dice came up crappers while for two years raking in the billions and in their pockets. They are still partying on our money. They knew, govt. regs. knew the white house knew and fought attempts to stop it...EVERBODY knew what the hell was going on. ALL 50 state attorney's general knew what was going on and tried to stop it but for Bush and his cronies.

We NEVER found $700 fucking billion dollars in one check for ANYTHING not even the fucking cold war. BUT sure enough with every pole 3-4 to 1 against...we still found that all of that money for wall street and in about 15 fucking minutes of negotiation.

When will we ever learn ?

(in reply to pahunkboy)

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RE: Check out this loophole-50ml FDIC insured - 11/19/2008 4:56:01 AM

pahunkboy

Posts: 33061
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From: Central Pennsylvania
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http://www.youtube.com/watch?v=UaWZWyBSBB0&feature=channel

Gerald Celente from trends research. fox had him on too.

I dont know what the logic is. But he predicts a tax revolt and states separating off the US. maybe it is over stated. But 11 bail outs of 2008 are very real.

(in reply to MrRodgers)

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