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Reply #19: Just start taking your money out in small... [View All]

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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-05-09 10:48 PM
Response to Reply #13
19. Just start taking your money out in small...
...increments. That's what we've done over the past few months.

A few hundred here...a few hundred there. Then, every once in a while we'd go in
and take out a thousand or so.

Our savings and checking accounts are pretty much drained to the bare minimum.

In my opinion, the "ground" or whatever place you put your money--is safer than the
banks right now.

Geithner has demanded that the banks produce documentation regarding their balance
sheets in early April. It's a condition of the bailout.

Just exactly what does everyone think is going to happen when these banks clearly
demonstrate that they are insolvent?

It ain't gonna be pretty.

And now we've got Bair telling us that the FDIC fund may not have enough money to
cover deposits if many banks go under.

Red flags are flying everywhere and each person has to determine what they mean
and if risk exists--and if so, if they're willing to take that risk with their dollars.
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