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Reply #26: If martial law is declared, do banks shut down? [View All]

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williesgirl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-09-08 03:07 PM
Response to Reply #25
26. If martial law is declared, do banks shut down?
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  -JPM margin call warning - my favourite financial blog says "The Game is Over". Here's why. GliderGuider  Mar-09-08 02:02 PM   #0 
  - Hmmmm? I better plant a bigger garden this year.  Uben   Mar-09-08 02:08 PM   #1 
  - cash meaning cash in hand?  gristy   Mar-09-08 02:24 PM   #2 
  - An FDIC insured account does you no good...  Wednesdays   Mar-09-08 02:38 PM   #6 
  - elsewhere a DUer posted that there is often language in mortgage docs  salin   Mar-09-08 02:39 PM   #8 
  - Even so..  sendero   Mar-09-08 04:53 PM   #59 
     - My guess is that if the bank were to go into default  salin   Mar-09-08 05:01 PM   #64 
        - That might be the case.  backscatter712   Mar-09-08 06:56 PM   #88 
  - What loan?  gristy   Mar-09-08 02:52 PM   #14 
  - FDIC is there to protect the banks, not the depositors, no matter what they tell you.  GliderGuider   Mar-09-08 03:03 PM   #22 
     - Why are you assuming all of the banks are going to fail?  high density   Mar-09-08 05:05 PM   #66 
        - "One guy on one blog"? GMAFB  GliderGuider   Mar-09-08 05:30 PM   #71 
        - Well show the proof that Bank of America et al are on the brink of failure  high density   Mar-09-08 05:41 PM   #75 
           - agreed... but  salin   Mar-09-08 05:46 PM   #77 
           - It doesn't start with the Bank of America.  GliderGuider   Mar-09-08 05:49 PM   #79 
        - what about pensions like TERS and PERS?  roguevalley   Mar-09-08 10:41 PM   #90 
  - Your lender can only demand payment in full...  Snarkoleptic   Mar-09-08 02:55 PM   #19 
  - you may have just answered a question I raised down thread...  salin   Mar-09-08 03:05 PM   #23 
  - Perhaps, but most loans aren't owned by banks, and in many cases, the ones that ARE...  elehhhhna   Mar-10-08 04:38 PM   #107 
  - As long as too many banks don't fail  salin   Mar-09-08 02:38 PM   #7 
  - yes, that is the best place for your money  CountAllVotes   Mar-09-08 03:08 PM   #28 
  - How bilblical and ironic...  Wednesdays   Mar-09-08 02:30 PM   #3 
  - That is the best use of a Bible quote in context that I have seen in awhile  Elspeth   Mar-09-08 02:52 PM   #15 
  - typical term of margin call is 72 hours  DemReadingDU   Mar-09-08 02:35 PM   #4 
  - IF and When  DemReadingDU   Mar-09-08 02:47 PM   #10 
     - It reads like there are levels - top bank  salin   Mar-09-08 02:57 PM   #20 
        - That's how I read it too.  GliderGuider   Mar-09-08 03:06 PM   #24 
        - So this 'margin calling' process could go on for weeks/months  DemReadingDU   Mar-09-08 03:13 PM   #31 
           - Yes. Don't expect this to all unwind within the next six months.  GliderGuider   Mar-09-08 03:16 PM   #33 
           - It reads like.. if a bank can't pay the margin  salin   Mar-09-08 03:26 PM   #38 
  - Thanks for posting this here  salin   Mar-09-08 02:37 PM   #5 
  - How can they call in home loans being paid on time?  williesgirl   Mar-09-08 02:41 PM   #9 
  - If the value of the home has dropped below the balance owed (it's "under water"), or...  GliderGuider   Mar-09-08 02:48 PM   #11 
  - Thanks - are you then able to make up the diff in the value vs loan?  williesgirl   Mar-09-08 02:51 PM   #13 
  - I think it would depnd on how desperate the lender is.  GliderGuider   Mar-09-08 02:54 PM   #18 
     - as I read the article and the original article from Reuters,  salin   Mar-09-08 03:01 PM   #21 
     - nah  northzax   Mar-09-08 04:47 PM   #58 
  - I disagree with you that "call" clauses in mortgage loans are common in the U.S.  amandabeech   Mar-09-08 03:58 PM   #47 
     - How about, "For sufficiently small values of 'common'"?  GliderGuider   Mar-09-08 04:20 PM   #51 
  - Breach of covenant. That said, no one wants to do that. This line of thought is dumb.  BadgerLaw2010   Mar-09-08 06:06 PM   #82 
  - I advised someone around here to do just this  CountAllVotes   Mar-09-08 02:49 PM   #12 
  - I've been toying w/doing this but am scared. Have lost $25K since Oct and wanted to see if it'd  williesgirl   Mar-09-08 02:53 PM   #16 
  - my relatives I mention are still *waiting* too ...  CountAllVotes   Mar-09-08 03:12 PM   #30 
  - Can you risk losing it all? Take what you have left out NOW!  Texas Explorer   Mar-10-08 12:55 PM   #103 
  - I'm not really in the stock market, have money market fund  DemReadingDU   Mar-09-08 02:54 PM   #17 
  - Perhaps they're still getting income  Warpy   Mar-09-08 03:08 PM   #27 
  - if they lost 60% of what they have  CountAllVotes   Mar-09-08 03:15 PM   #32 
  - "survive on a 90% income cut "  annabanana   Mar-09-08 04:56 PM   #61 
  - I'll be in a house  Warpy   Mar-09-08 06:59 PM   #89 
  - Yes but typically...  sendero   Mar-09-08 04:58 PM   #62 
  - Forget the insurance, it is only as good as the resources it has to cover the losses  greyhound1966   Mar-09-08 03:23 PM   #36 
     - try a credit union  CountAllVotes   Mar-09-08 03:39 PM   #42 
     - From what I understand, the credit union I do business with  Wednesdays   Mar-09-08 04:13 PM   #50 
        - wow that is really scary  CountAllVotes   Mar-09-08 04:32 PM   #55 
           - then you have an odd credit union  northzax   Mar-09-08 04:55 PM   #60 
     - FDIC to Add Staff as Bank Failures Loom  DemReadingDU   Mar-09-08 04:00 PM   #48 
  - So this is why the preparations for martial law  Elspeth   Mar-09-08 03:06 PM   #25 
  - If martial law is declared, do banks shut down?  williesgirl   Mar-09-08 03:07 PM   #26 
  - I suspect they've seen this coming for the last couple of years.  GliderGuider   Mar-09-08 03:12 PM   #29 
  - this is why they have been ramping up the infrastructure of the police state since reagan  datasuspect   Mar-09-08 03:29 PM   #40 
  - As someone who knows  Delphinus   Mar-09-08 03:17 PM   #34 
  - I'd pay off debt if it was me  CountAllVotes   Mar-09-08 03:22 PM   #35 
     - Thanks.  Delphinus   Mar-09-08 03:25 PM   #37 
        - you are very welcome  CountAllVotes   Mar-09-08 03:28 PM   #39 
        - Good luck, CAV -  Delphinus   Mar-09-08 04:24 PM   #53 
        - I was really just saying, "Stay out of the F'ing Stock Market!!!1!11!"  GliderGuider   Mar-09-08 03:32 PM   #41 
           - Haha!  Delphinus   Mar-09-08 04:23 PM   #52 
  - I will fight their call in with bullets.  lonestarnot   Mar-09-08 03:45 PM   #43 
  - How can you fuck up a nation in only 8 years?  Rex   Mar-09-08 03:47 PM   #44 
  - "We mucopurulent republicon homelanders have our ways. Shock and awe, baby." - Commander AWOL  SpiralHawk   Mar-09-08 04:27 PM   #54 
     - It dawned on me yesterday what they mean by 'fight them over there  Rex   Mar-09-08 04:33 PM   #56 
  - The Fed will probably pay it  CGowen   Mar-09-08 03:52 PM   #45 
  - Saying that banks will call in your mortgage loan is a straight up untruth  EvolveOrConvolve   Mar-09-08 03:56 PM   #46 
  - We'll see. I'd expect a series of widening ripples as the level of desperation increases.  GliderGuider   Mar-09-08 04:07 PM   #49 
     - You clearly don't understand what is happening.  sendero   Mar-09-08 05:04 PM   #65 
     - I agree with you about banks.  GliderGuider   Mar-09-08 05:23 PM   #69 
     - You do not understand real estate. Real estate is not liquid. There's no "cash" there.  BadgerLaw2010   Mar-09-08 06:11 PM   #83 
        - Well that's a relief, then. We'll all get to keep our homes.  GliderGuider   Mar-09-08 06:24 PM   #87 
           - The home mortgages that banks called in during the Great Depression  fasttense   Mar-10-08 09:39 AM   #93 
  - I'm going to get drunk.  alfredo   Mar-09-08 04:44 PM   #57 
  - DOOOO OO O oo oo oooo o mmmmmmm!!!1111  jpak   Mar-09-08 04:59 PM   #63 
  - Cash is NOT king when there is no gold standard...  roamer65   Mar-09-08 05:09 PM   #67 
  - It sure beats Nortel shares...  GliderGuider   Mar-09-08 05:18 PM   #68 
     - Yes it does and I am glad to hear you sounding warning bells.  roamer65   Mar-09-08 05:26 PM   #70 
        - Regarding Zimbabwe  GliderGuider   Mar-09-08 05:40 PM   #74 
           - Let's see if they get to the level of post-WW1 Germany...  roamer65   Mar-09-08 05:44 PM   #76 
  - foreclosing on homes  NJCher   Mar-09-08 05:35 PM   #72 
  - K & R. I feel sick to my stomach.  TheGoldenRule   Mar-09-08 05:37 PM   #73 
  - Ditto! K&R nt  laylah   Mar-09-08 05:46 PM   #78 
  - I thought it was illegal to call in a loan like that if the borrower's making his payments on time.  backscatter712   Mar-09-08 06:01 PM   #80 
  - It depends on the mortgage. There are "demand clauses" in some that could have that result  GliderGuider   Mar-09-08 06:12 PM   #84 
  - what do they think they'll get from students?  RainDog   Mar-09-08 06:02 PM   #81 
  - garnish future wages?  salin   Mar-09-08 06:12 PM   #85 
  - I think we're going to see a huge wave of personal bankruptcies as this juggernaut gets rolling  GliderGuider   Mar-09-08 06:15 PM   #86 
     - Bankruptcy rate in 2008 is expected to equal the rate during the Republican Great Depression.  fasttense   Mar-10-08 10:02 AM   #94 
  - Cash is crap right now. Gold is king.  El Pinko   Mar-09-08 11:04 PM   #91 
  - morning kick  DemReadingDU   Mar-10-08 07:23 AM   #92 
  - Fuck em  Indenturedebtor   Mar-10-08 10:25 AM   #95 
  - Life in the mountains is a real struggle. First there are critters you don't have to contend with i...  Mountainman   Mar-10-08 10:52 AM   #99 
  - And still Dubai builds and builds and builds......  WinkyDink   Mar-10-08 10:30 AM   #96 
  - that's the problem -- cash is king -- where do you put your cash?  antigop   Mar-10-08 10:45 AM   #97 
  - WRONG!  masmdu   Mar-10-08 10:51 AM   #98 
  - Wow, such sage advice  Wednesdays   Mar-10-08 11:22 AM   #100 
  - Yeah, those stupid hedge funds and the Fed - what do they know about anything?  GliderGuider   Mar-10-08 11:44 AM   #101 
  - i'm sitting on a stack of cash-is it safer buying a tbill through a brokerage or treasury direct ?  natrat   Mar-10-08 12:39 PM   #102 
  - they all need the money back  NanBo   Mar-10-08 02:33 PM   #104 
  - afternoon kick  DemReadingDU   Mar-10-08 02:33 PM   #105 
  - Breathing a sigh of relief  bain_sidhe   Mar-10-08 04:26 PM   #106 
  - Sorry I'm too late to recommend. Nice find, GliderGuider!  robertpaulsen   Mar-10-08 05:34 PM   #108 
 

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