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lagilmanThis article should be required reading for everyone. Yes, everyone.
http://tinyurl.com/5xfu96
"SEATTLE (MarketWatch) -- This is probably the most sobering, simple and useful investment advice you will ever receive: Do not leave uninsured deposits in any FDIC-insured bank account.
The reason I bring this up is that tens of millions of dollars of U.S. bank deposits are uninsured. They may not be yours, but they may be your parents', children's or friends'. Given the unfolding banking crisis that is likely to lead to more failed institutions, you should act now to protect this money."
Even if you don't have anywhere near the maximum insured amount in any banks total, you still should read this article. This is your economy, people. Pay attention.
And for something a little more digestible: suri's chicken-bacon stew:
Take a pound of chicken thighs, cubed, dredge them in flour and then brown them in a dutch oven. Remove and set aside. Add several cloves of garlic (chopped) and a red onion (likewise) into the dutch oven and cook until slightly golden. Add four cups of chicken broth, salt, pepper, cumin, dill, a pinch of saffron, and whatever else strikes your fancy (you can really spice up dark meat chicken if you like, but I suggest working with the smokiness of the bacon, not against it). Bring to a boil and let simmer for five minutes. Cook several stripes of bacon, dry and crumble, mix in with chicken. Set aside. Add a double-handful of red potatoes (cubed) and carrots (likewise) and the chicken-bacon mix. Toss in a handful of farro (because I can, and it always works). Simmer over a low heat until done. You shouldn't need to add any thickener to this -- the potato and farro do that just fine on their own. Satisfyingly yummy, with a slightly sweet, smoky flavor, although it could probably use some stronger warm spices once the weather gets cooler. Feeds three easily.
Also a note to myself: please stop eating popcorn. I know you love it. It does not love you. These relationships always end badly.
http://tinyurl.com/5xfu96
"SEATTLE (MarketWatch) -- This is probably the most sobering, simple and useful investment advice you will ever receive: Do not leave uninsured deposits in any FDIC-insured bank account.
The reason I bring this up is that tens of millions of dollars of U.S. bank deposits are uninsured. They may not be yours, but they may be your parents', children's or friends'. Given the unfolding banking crisis that is likely to lead to more failed institutions, you should act now to protect this money."
Even if you don't have anywhere near the maximum insured amount in any banks total, you still should read this article. This is your economy, people. Pay attention.
And for something a little more digestible: suri's chicken-bacon stew:
Take a pound of chicken thighs, cubed, dredge them in flour and then brown them in a dutch oven. Remove and set aside. Add several cloves of garlic (chopped) and a red onion (likewise) into the dutch oven and cook until slightly golden. Add four cups of chicken broth, salt, pepper, cumin, dill, a pinch of saffron, and whatever else strikes your fancy (you can really spice up dark meat chicken if you like, but I suggest working with the smokiness of the bacon, not against it). Bring to a boil and let simmer for five minutes. Cook several stripes of bacon, dry and crumble, mix in with chicken. Set aside. Add a double-handful of red potatoes (cubed) and carrots (likewise) and the chicken-bacon mix. Toss in a handful of farro (because I can, and it always works). Simmer over a low heat until done. You shouldn't need to add any thickener to this -- the potato and farro do that just fine on their own. Satisfyingly yummy, with a slightly sweet, smoky flavor, although it could probably use some stronger warm spices once the weather gets cooler. Feeds three easily.
Also a note to myself: please stop eating popcorn. I know you love it. It does not love you. These relationships always end badly.
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Wow!
Date: 2008-09-13 05:59 pm (UTC)no subject
Date: 2008-09-13 10:55 pm (UTC)no subject
Date: 2008-09-14 01:03 am (UTC)Um no. If you have an account up to $100,000 at an FDIC insured bank, you are fully insured for that amount. To quote:
"If a depositor's accounts at one FDIC-insured bank or savings association total $100,000 or less, the deposits are fully insured. A depositor can have more than $100,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. In addition, federal law provides for insurance coverage of up to $250,000 for certain retirement accounts"
no subject
Date: 2008-09-14 02:07 am (UTC)Break Your Millions of dollars up into several accounts of less than $100,000 and you get each of those $100,000 accounts insured. Okay, so you would have to have those accounts at Multiple banks or Savings Associations. The benefit of having so few Banks and savings associations is that there can be that many fewer accounts available for insuring.
but Still, all those Billions of dollars are coming from Your Taxes.
If the Government doesn't have the money, they have to get if from somewhere and that means more Taxes will be needed. If more Taxes are Needed, then they will Raise the Amount that is Owed, so that the public has to Pay More Taxes. so Your Money is being Taken From You to Pay for all those FDIC Insured Accounts.
You will end up with a government, providing a lifestyle and income for everyone. It's called the Dole. I think that history has examples of this.
no subject
Date: 2008-09-14 03:00 am (UTC)FDIC stands for Federal Deposit Insurance Corporation. the Corporation part is pointless, because it's all the FEDERAL Government. This Means that Uncle Sam will take YOUR tax dollars and give them to the people who have $100,000 or less in a bank account.
FDIC means that you -- the taxpayer -- are insured if you have up to $100,000 in a bank account in an FDIC bank. The point of the article was to make sure that you ARE in such a bank, in case it fails. In other words, protect your investments with the available resources.
If a bank fails, it is sometimes taken over by the government and sometimes sold to another company (they take on the debt), but the insurance ensures (hence the insurance part) that your account is safe up to that dollar amount. Does the taxpayer take a hit? Yes. But you pay insurance fees to protect your real property, too. That's the "insurance" part of it, I suppose. I'm not sure where the "dole" part of it comes from.
Please cite your sources to support your argument (although I'm not sure what your argument is, exactly, other than "I'm a Libertarian and you're wrong"), and refrain from histrionic Capitalization of Your Words. Thanks.
no subject
Date: 2008-09-14 09:46 am (UTC)where does the money for this insurance come from? the money that will be returned to you if you have up to $100,000 in an FDIC insured bank? is there an insurance company that has investments to cover the money?
are there stockholders who have invested money into the FDIC?
I seem to recall that there were a couple of banks that failed a few years back which cost the government billions of dollars in the bail-out. is this the source of the money, the government?
where is the government getting this money for these banking bail-outs?
way back after the depression, based upon the number of people who lost everything they had because of bank failures, raised the need to have an "insurance" (can i still use quotes?) that would prevent people from losing everything in case of a similar banking failure. this led to the formation of the FDIC which covers almost every bank in the US.
my point is still that the money to cover all of those "insured" accounts has to come from someplace. I believe that it is coming from the government budget. which means it's coming out of our taxes.
as far as I know, each account would be covered. or if not each account, then all accounts within a bank (does that mean the whole corporate bank, or just that branch?) so if you split all of your money into multiple accounts, you could get back most of it from the "insurance".
as far as a dole goes, that may have been part of another thought which obviously wasn't fully considered before introducing to this forum.
I dunno about this Libertarian stuff, since I've never really paid that much attention to politics to understand which is what as far as political leaning goes.
no subject
Date: 2008-09-15 02:00 am (UTC)A quick Google turns up: http://www.clevelandwomen.com/pro/fdic.htm
....if your bank were to fail, FDIC insurance would cover your deposit accounts, dollar for dollar, including principal and accrued interest, up to the insurance limit....
...As of mid-year 2005, the FDIC had $48 billion in reserves to protect depositors. Some people say they've been told (usually by marketers of investments that compete with bank deposits) that the FDIC doesn't have the resources to cover depositors' insured funds if an unprecedented number of banks were to fail. That's false information.
"If needed, the FDIC has several ways to raise additional funds, including the authority to collect more money from insured banking institutions and borrow from the U.S. Treasury," said James Williams, an FDIC Consumer Affairs Specialist. "FDIC-insured deposits also are backed by the full resources of the United States government — the strongest guarantee you can get."
If you want further clarification you should probably talk to your banker or advisor.
no subject
Date: 2008-09-13 11:15 pm (UTC)no subject
Date: 2008-09-14 02:17 pm (UTC)*laughs out loud* I'm right there with you. :)
no subject
Date: 2008-09-15 08:17 pm (UTC)no subject
Date: 2008-09-15 08:44 pm (UTC)