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Hippiekinkster -> RE: Gov shuts down lender IndyMac (7/12/2008 12:10:20 AM)
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quote:
ORIGINAL: Thadius
quote:
ORIGINAL: Lockit
LOL... I was pretty well off at one time! Custom everything... now... hehe the other end of custom... used... personalized... down right... old and broken... but hey I own it and it is all mine! But the thing I miss most besides enough to pay all the bills... is the hot tub...
But it is sad... some may end up like me... the way things are going.
I know that feeling. Although it does make you appreciate the little things a bit more. I am not out of the woods yet, but definitely recovering, even if it is a slow process.
I was just thinking though, about the people that are gonna realize that their accounts were only covered for so much under the FDIC, and how many had planned for it by having multiple accounts.
Well, I doubt there are very many people who have 100K sitting around in a bank. When I had that much to play with, I made it work a little harder.
I'm thinking that we'll see more of this happening. I read the CEO's bandaid-du-jure about stopping making loans. Well, money is a bank's inventory and, like any business, inventory has to be turned. Just having people keep their money with a bank and servicing the existing loans is not a brilliant business strategy (Where do they find these idiots for CEOs, anyway?).
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