What Will You Do Personally If There Is a Stampede Of Bank Runs?

[Virginia Dare]

I'm seeing the potential for some serious problems in the next month.

Calling us all psychos and mental midgets didn't work, so monkey face had to go on teevee and tell us everything is fine.

Now ABC produces a list of banks that are about to go under.

What's your strategy for the coming storm?

[daa]

1. I own gold & commodities nt

[spinbaby]

12. How long does it take to turn that into cash?

The problem with bank failures (for the moment, at least) is that you're likely to be temporarily cut off from your funds and unable to buy gas and groceries. I'd think a stash of cash would be more immediately useful than gold and commodities.

[daa]

40. Its a fund just like stocks

sell it in nanoseconds.

[Mojorabbit]

31. ditto

all my mutual funds have been in energy and commodities for the past four years. I have gold and silver and keep a stash of cash for emergency. When we had a hurricane, no atms worked nor electronic cash registers. I don't have 100,00 anywhere so I will either be lucky and get fdic insurance on hwat I have or not if they run out of cash.

[carlyhippy]

2. Do you have a link to the lists?

I would like to know ahead if mine is on it.
Carly

[Better Believe It]

8. List Please

So we can take our money out!

Who's panicking?

WHAT ME WORRY?

[lonestarnot]

18. In 1989, the nation saw a post-Depression era record of 206 bank failures.

http://www.godlikeproductions.com/forum1/message514318/pg1

[SteelPenguin]

16. it's on this page

http://abcnews.go.com/Blotter/Story?id=5374205&page=1

scroll down. it's a word doc linked as

"One list prepared by Research Associates of America, a non-profit group in Washington, D.C. funded by labor unions, reported 10 banks with a ratio over 100. (click here to see the list)"

[Prefer]

20. contents

Bank City State “Texas-ratio”
Colorado Federal Savings Bank Greenwood Village CO 244.8
Eastern Savings Bank, FSB Hunt Valley MD 222.7
Integrity Bank Alpharetta GA 191.6
Ameribank, Inc. Welch WV 153.7
First Priority Bank Bradenton FL 122.6
First Security National Bank Norcross GA 112.1
Magnet Bank Salt Lake City UT 110.4
Security Pacific Bank Los Angeles CA 102.8
First National Bank of Brookfield Brookfield IL 102.1
The State Bank of Lebo Lebo KS 100.6
Source: Research Associates of America

[NightWatcher]

3. I'm the broke owner of a failed business, so I dont have anything in any bank

I have began hunkering down months ago and I am wired into a survival trip right now. I am getting ready for a crash- if not on a large scale, one exists in my life.

[Cleita]

4. I already took any money I had in CD's out of the bank six months ago.

It doesn't mean I'm out of the woods. A run on the banks will pull other investments down with it. I really don't have a strategy because no matter where you go, a bad economy, and recession leading to depression will pull all safe havens down. Again the very rich who can afford to lose some wealth won't have their life styles affected, but those of us with life savings from our work lives will suffer. I guess I'm resigned to the inevitable.

[Trillo]

5. Hot buttered Popcorn!

:popcorn:

[specimenfred1984]

6. Other than laughing at the fascists, I will conveniently "lose" all evidence of debt

and ask the new bank owners to prove I own them anything. Then, I'll just find a local bank and not put much money in there.

[BigDaddy44]

45. So.... you'll try to skip out of your obligations

Niiiiiice. No wonder the banks are having problems.

[Skittles]

50. I hear you

absolutely

[cliffordu]

52. Hmm....Corporations do it all the time. Why not us??

[ecstatic]

68. Exactly. Thanks for the idea :) nt

[Edweird]

7. Stock up.

Food, Water, Fuel, Ammo.

Just like any other storm.

[TexasObserver]

9. there's not going to be a run on the banks

My strategy is to not panic. The markets are in the process of losing 20-25% of their values, and that's probably a good thing in the long run. Most banks will be fine, and those that aren't will be taken over. It's happened before and it will happen again.

Avoiding debt, paying obligations ahead, and not wasting money are always the guideposts of sound fiscal policy.

[Virginia Dare]

35. That's true, the only problem is..

you are in a tiny minority of people who have actually been following those guide posts. In fact Bush and his cronies have been encouraging the exact opposite for many years now. Even the federal government hasn't been following sound fiscal policy. Greed and avarice took over, and now we're all paying the price.

I think there's a very good chance we will see a run on banks, how bad and how widespread is hard to say right now, but unlike 1929, news travels fast. A couple of banks go belly up and it will be all over the Internets in no time flat. People will panic and lose their heads. Mark my words.

For my part, I'm going to keep some cash on hand, enough to get me by for a couple of weeks just in case.

[lonestarnot]

10. Where's the list?

[Squatch]

11. I will chill the fuck out...knowing that a "run on the banks" is not in the offing.

[Virginia Dare]

34. What makes you so confident?...n/t

[Squatch]

38. My natural sense of adventure and derring-do

What makes you confident?

[A HERETIC I AM]

41. Now THAT'S a funny post.

:spray:

[cliffordu]

53. ROFL. Well played!!

:rofl:

[Virginia Dare]

57. I'm not confident about anything in terms of financial markets right now..

pray, give me the good news.

[Zhade]

43. Conservative ignorance.

Nothing new with that poster.

[Squatch]

56. Pray tell, why do you think I'm a conservative?

What do YOU know about ME that has given you the ability to make that judgement?

I was going to hit alert, but I'm really curious as to why you think I'm a conservative.

[Mojorabbit]

46. There has been a run on one bank

the past few days. Whether it will turn into a run on banks in general remains to be seen. I am hoping not.

[izquierdista]

13. Wait for Inauguration Day

Just like grandad did in 1933, when he had to wait for the new president to declare a Bank Holiday and work to restore confidence in the banking system.

Some things never change; some people (usually Republicans) never learn.

[LostInAnomie]

14. Stand outside the bank...

... mugging all those that exit with their savings.

[NightWatcher]

17. good plan, I think I'll try that too. Sounds safer than a 401K

[sinkingfeeling]

15. Stay home and watch as people panic and cause the problem to get even worse.

[Virginia Dare]

32. That's what do the day after Thanksgiving...n/t

[harun]

19. Read DU and yawn (n/t)

[Speck Tater]

21. Fortunately, I don't have any money.

Just land, gardens, orchard, water well, stored food.

I'm pretty much disentangled from the economy, so for me, economy watching is a spectator sport. I don't really have any financial assets at risk.

(Technically, I'm "living in poverty". But I love my way of life.)

[lynettebro440]

37. I hear you fiziwig

I simplified my life about 5 years ago and now I'm watching all these other people start to freak out and I just smile, because I'm ready and prepared. I've been shopping the dollar store way before it became cool. So the show is really on now.

[cliffordu]

55. Me too - No debt, I live in a rural area - lots of local produce, loads of game animals,

on a well, I have a couple of weeks worth of grains, rice and beans.....

Just for shits and giggles.....

[DireStrike]

65. A lot of people envy you your "poverty"

myself included.

[global1]

22. Jim Cramer Last Night On Hardball And The Chimp In His Presser Today.......

just kinda priming the pump for a run on banks. Listening to * today gave me no comfort that this won't happen - if fact it had the opposite effect on me and made me shaky. What does our economy is "basically sound" mean in Bush talk?

[NightWatcher]

23. you're doin a heck of a job Brownie

if he says "up" the answer is "down" if he says "bascially sound" we're fucked

[Theres-a]

49. Ding! ding! Ding! Tell Him what he's won Bob! We have a winner!

Absolutely fucked.Basically.

[Indenturedebtor]

24. I still have my health.

If the economy completely crashes I'll pretend my debts don't exist, live with my parents for awhile to save up some cash and then who knows and who cares? Being comfortable is a slow death anyways. Might as well live life a little.

Fuck it. I'm sick of worrying about financial ruin.

[CK_John]

25. Become a street vendor, sell hot dogs, ice, water, apples, etc. n/t

[Clark2008]

26. Not much...

We live paycheck to paycheck. My money would be insured because I don't have $100,000 in the bank. Wish I did.

I'm sure we'll be able to recover our paltry paychecks and small savings.

[Virginia Dare]

33. Where will you get your cash in the short term?

you may be forced to wait days or even weeks before you can cash a check.

[Clark2008]

42. If the entire country is like that, then creditors will have to wait.

But, my bank isn't on that list (above) so I don't think I'll need to worry about it. Besides, I'm paid weekly, so I would just have my check sent to me rather than deposited.

[Virginia Dare]

60. As long as your bank doesn't fail you should be okay..

but short-term cash to pay for necessities like food and gas could be an issue for some.

[yellowdogintexas]

27. be very glad I am in a Credit Union nt

[NC_Nurse]

28. Me too!

Thank God for credit unions!

[Javaman]

62. Ditto! shead the bank growth on my back years ago. nt

[slackmaster]

29. Turn in my badge

Maybe burn my uniform.

[YOY]

30. Well I'll laugh when my mortgage company tries to collect

Seeing as how I got my morgate through them and all...

[HughMoran]

36. I'm going to relax and not feed it

If I had above the insured limit I'd be skimming the amount over the limit though.

[Firespirit]

39. Get my money out

It's only about $1500 total, shouldn't take down the bank. I need it a lot more than they do and it'd be OUT if we started seeing this.

[onetinsoldier]

51. your map

obama will not win florida,he also will win at most 3 of the 4 states of va,mich,pa,ohio so re do your math

[Catherine Vincent]

44. What does "Texas-ratio" mean?

What does Texas have to do with those banks?

[galledgoblin]

47. The lists use versions of the so-called "Texas ratio" which compare

a bank's assets and reserves to its non-performing loans, based on financial data made public by the FDIC in March.
http://abcnews.go.com/Blotter/Story?id=5374205&page=1

is there a more complete list anywhere?

personally I would be fine even if my bank went under, since my assets are much less than $100,000 and it is FDIC insured.

[Virginia Dare]

58. As long as you have cash to tie you over until you can get to your money again..

when Indymac failed, supposedly these people could still withdraw through ATM's, but if you had a mass cascade of failures and runs, the ATM system could go down with it. I'm preparing for the worst, just in case. With Bushco in charge, you never know.

[Rex]

48. Nothing, die along with the rest of the masses.

Laugh as I starve to death at the irony.

[crimsonblue]

54. I hope US bank goes bankrupt...

because then my credit card debt goes bye bye. :D

[Virginia Dare]

59. I guess you didn't hear..

financial institutions were busy with the Repub majority a few years ago passing laws to make sure that didn't happen.

[Javaman]

61. Buy up all the beer in the county. :)

then sell it for 50 bucks a 6 pack. :)

[Virginia Dare]

63. I'm stocking up now just in case :)

I'm hoping for the best, but preparing for the worst. You never know when the monkey face "in charge". At any rate, I guess I can live on tomato sandwiches and beer for a couple of weeks...:hi:

[tuckessee]

64. Hand out material educating the people in line about the Federal Reserve. n/t

[csziggy]

66. Watch It's a Wonderful Life and wish for a George Bailey

http://www.youtube.com/watch?v=MJJN9qwhkkE&NR=1

[ecstatic]

67. Nothing. I take them at their word when they say the money's insured. But are money market

savings accounts insured too?

[countryjake]

69. Organize up & down the lines, on the joys of capitalism...

it will be a golden opportunity, with that many scared and angry people all in one place. (One woman stood in the heat for so long on Monday that she keeled over...monied folk may have a hard time getting used to the "line treatment" so many of us have been subjected to by this system for years and years.)

Having no bank account anyway, it will be business as usual, for me.