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Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?

 
Anonymous Coward
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03/20/2013 11:01 AM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
This is just another example of how people saving money and not going into debt are being punished.
Anonymous Coward
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03/20/2013 12:21 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Investors are insured-----> SIPC
 Quoting: Anonymous Coward 36347272


Insured only against fraud or impropriety by the firm. They get to define these terms.
Anonymous Coward
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03/20/2013 01:27 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
At this afternoon’s FOMC Press Conference in response to a question posed as to whether the Fed would ever impose depositor haircuts as was attempted this week in Cyprus, Fed Chairman Ben Bernanke confirmed that Cyprus style depositor haircut wealth confiscation is possible here in the US if the Cyprus event or another event in Europe were to become contagious and the people lose confidence in the US dollar.
Anonymous Coward
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03/20/2013 01:32 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Neither..

.. I'm with Jesus.
 Quoting: Anonymous Coward 1982145


BUT jesus is also a saver
 Quoting: Anonymous Coward 14452344


Yes,,he saved many spirit from greed and damnation.
Ralph--a house dog

User ID: 25802009
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03/20/2013 01:33 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
The Nationals & Multi-Nationals are now SO BIG, they are in an entirely different classification of Financial Institution...they are essentially treated like they are part of the government.
 Quoting: Saddletramp


For sure, people say the government should do something! Well I agree the first thing the government should do is allow the TBTF banks to fail, liquidate their mal-invested debt and break them all up, making any real assets they might have available to smaller banks.

Break em up.

.
 Quoting: Anonymous Coward 961432




Exactly.

They are NOT "too big to fail".

They are TOO LARGE TO LIVE.
"Who decides?"
---Robert A. Heinlein

[link to www.westcoasttruth.com]

"Do Not Go Gentle into that Good Night.....Rage, rage against the dying of the light"
----Dylan Thomas
Anonymous Coward
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03/20/2013 01:42 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
And when the currency crashes, what are they gonna eat? Their gold? I won't be selling any of my food for a stupid piece of metal.
Desert FoxModerator
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03/20/2013 01:50 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Neither, I am out of the system, not to return.
TOMABANEFOX
Alexander

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03/20/2013 01:55 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Personally, I think it's safer keeping money in a credit union.
The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is.
Winston Churchill
Mister1k

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03/20/2013 01:56 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
I don't know if I can be a depositor or a investor.
I'm an over drafter, Does that count?
My bank account says something like -324.23
I guess that's something.
But I always thought Zero was nothing.
But apparently I have something that is less than nothing.
And is worth something.
Those bankensteiners!!! bushtard
I am so glad they came up with those rules.
Who would have thought you could invent something outta nothing. IS that a Deriv, what's that world, oh yeah Derivative!!!

Last Edited by Mister1k on 03/20/2013 01:57 PM
Fail to Plan! Plan to Fail!
Fishy

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03/20/2013 02:05 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
The bottom line is this, when they repealed Glass-Steagall they removed your classification as a "Depositor"...you are now an Investor, it's just that no one bothered to tell you...

And, as an investor, you are getting an absolutely shit return on your money!
 Quoting: Saddletramp


Yep, the repeal of Glass-Steagall allowed all of the bankers to rip us off!!! It's fucking criminal! I'm not saying the crash would have been prevented without the repeal, but it certainly would have been more difficult to steal our money and put us into financial free fall.
beeches

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03/20/2013 02:22 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Neither..

.. I'm with Jesus.
 Quoting: Anonymous Coward 1982145


BUT jesus is also a saver
 Quoting: Anonymous Coward 14452344


Very funny. And true.

30 years ago we were driving through a small town in the state of Pennsylvania, when I saw a neon cross with the words "Jesus saves". Because it was a storefront, to me as a kid it was
clearly the bank where Jesus made deposits!


It took me years to figure out it was a church.
A New Year, A New Chance
Epic Beard Guy
Constitutional Crusader

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03/20/2013 02:25 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
As soon as my bank says that I am an investor, all my money comes out! If it is not protected by deposit insurance, it wont be there.
Hope for the best, but prepare for the worst.
"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- Claire Wolfe
Anonymous Coward
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03/20/2013 03:35 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
Investors are insured-----> SIPC
 Quoting: Anonymous Coward 36347272


Really...how did that work out for those "investors" in MF Global?!?!?

And you don't have SIPC on your account/investment at the bank, you have FDIC, which does not protect investors!
 Quoting: Saddletramp

That's funny c n I'm in a credit union so technically I'm an invested but my money is protected by the fdic
 Quoting: Anonymous Coward 31593934




You most certainly are not. FDIC does not have enough money to protect depositors... FDIC is the same "insurer" for the big banks. No money there.....definitely not nearly enough.
Anonymous Coward
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03/20/2013 03:36 PM
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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
As soon as my bank says that I am an investor, all my money comes out! If it is not protected by deposit insurance, it wont be there.
 Quoting: Epic Beard Guy




Not enough money to protect anyone
Saddletramp (OP)
We Don't Rent Pigs...

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03/20/2013 03:37 PM

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Re: Wholesale Changes In Banking On Our Doorstep: Are You A Depositor, Or Are You An Investor?!?!?
As soon as my bank says that I am an investor, all my money comes out! If it is not protected by deposit insurance, it wont be there.
 Quoting: Epic Beard Guy


Well they didn't bother to tell the people in Cyprus that their "Deposit" Insurance was worthless until the closed the banks down in an attempt to force them to provide the banks a capital infusion.

I don't think they were about to credit them back money they stole from their accounts as "insurance"...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

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