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Two More Banks Bite The Dust

 
falldown

User ID: 520470
United States
05/23/2009 02:15 PM
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Re: Two More Banks Bite The Dust
we are staring at a massive bond dislocation just around the corner and everyone will be caught off guard



this is what caused the Great Depression, not the stock market
 Quoting: the Stu

Yep...total and utter lack of trust...not just in the markets...but in the protection mechanisms. They'll have to jack up interest rates just to sell bonds, and that will zip through the economy like a steamroller knocking down dominos.
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"He who does not understand your silence will probably not understand your words." ~Elbert Hubbard
Anonymous Coward
User ID: 639785
United States
05/23/2009 02:27 PM
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Re: Two More Banks Bite The Dust
Let them fail.
Anonymous Coward
User ID: 619969
United States
05/23/2009 02:31 PM
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Re: Two More Banks Bite The Dust
Bank Failures are now running THREE a week.
Anonymous Coward
User ID: 606636
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05/23/2009 02:41 PM
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Re: Two More Banks Bite The Dust
Today Obama on C-Span brilliantly announced that we are out of money. On Tuesday the Treasury will offer $101 billion in bonds up for auction. Now how do you think this will affect the bond prices? And they say Biden is the gaffe machine. With this, the rising unemployment, and resulting drop in Gross National Product. Credit will dry up quicker than a slug on a hot sidewalk. People can't afford to borrow, banks can't cover their liabilities. Down goes the house of cards.
Watch your banks, if you borrow lock in the rate. Do not get a variable rate cause it looks good right now.

'WE'RE OUT OF MONEY'
Sat May 23 2009 10:32:18 ET

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.

So we've got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it's putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
[link to www.drudgereport.com]
the Stu

User ID: 331956
United States
05/23/2009 02:42 PM
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Re: Two More Banks Bite The Dust
Bank Failures are now running THREE a week.
 Quoting: Anonymous Coward 619969



its a "controlled" demolition


the sheep just havent figured it out yet
_____________________________________
Even the structure of the atom has been found by the mind. Therefore the mind is subtler than the atom. That which is behind the mind, namely the individual soul, is subtler than the mind.

-Ramana
doomass
User ID: 545433
United States
05/23/2009 04:06 PM
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Re: Two More Banks Bite The Dust
Morton Community Bank, Morton, Illinois, Assumes All of the Deposits of Citizens National Bank, Macomb, Illinois

[link to www.fdic.gov]

Midland States Bank, Effingham, Illinois, Assumes All of the Deposits of Strategic Capital Bank, Champaign , Illinois

[link to www.fdic.gov]
 Quoting: TheGasMan




enguard
Organic Veggie Gal
User ID: 588839
United States
05/23/2009 05:07 PM
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Re: Two More Banks Bite The Dust
Does anyone know if that Citizens bank is affilated with the Citizens bank in New England? Are all of the Citizens banks going to bite the dust?
TheGasMan  (OP)

User ID: 410747
United States
05/23/2009 06:57 PM
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Re: Two More Banks Bite The Dust
Does anyone know if that Citizens bank is affilated with the Citizens bank in New England? Are all of the Citizens banks going to bite the dust?
 Quoting: Organic Veggie Gal 588839

I don't know but we also have a Citizens Bank chain down here in TX.
LeopardSanctuary

User ID: 685938
United States
05/23/2009 09:21 PM
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Re: Two More Banks Bite The Dust
TCBND = There can be no doubt.
its a "controlled" demolition
the sheep just havent figured it out yet
 Quoting: the Stu

Brother sun, intuition moon. Home at the forest.

Sure every post I have mentions goat blood...How do you think we get plasma tv's?

Organic needs are being assaulted. I'm not amused by this & encourage all to grow heirloom seed for themselves.

The garden gives greatest power.
Diabetes curing food list [Forget the FDA - Think for yourself]:
Thread: Every item recently recalled by FDA for salmonella has diabetic healing also prostate Big Pharma rids their competition
VvvPZhLS
User ID: 20730128
United States
07/28/2012 04:05 AM
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Re: Two More Banks Bite The Dust
There are ways to get creative, but then reatliy kicks in. With no money, you are going to need to find a job that you can work a couple days a week and keep a roof over your head and food in your mouth. Now, if you become a stripper (insert sarcasm here) and can accomplish this, you will be able to find motivated sellers willing to do whatever it takes to get rid of thier house. In this case, you are to write up an "Assumable purchase contract" for a value not more than 70% of real value. Once you get a purchase contract, you farm it out to a potential buyer for a fee. For example You find a house with a worth of 200k, you offer 140k and they take it in an effort to dump the property and avoid forclosure. Now, you have a purchase contract with 60k built into the deal for a potential buyer. You then sell the rights to the purchase to a rich guy who has 160k in cash to buy the property. You just made 20k and the rich guy markets the property for a few months and ends up selling it at 190k. he made 30k and is happy to entertain the next deal you bring his way.Good luck! in order to do this you are going to have to stay VERY persistent, but I will tell you it happens all the time becuase private money lenders will not go above 70% loan to value TRADITIONALLY. Obviously, there are no rules in life but for the most part this holds true.PS, if you're in the state of CA, I will be happy to entertain any potential deals you come up with.BTW I hope you have very thick skin. I've seen everything when knocking on peoples doors that are in foreclosure. From the wife having no idea, to getting guns pulled on me. The law of averages comes into play though, and eventually you are going to get a responsive seller.References : I started out this way.
Anonymous Coward
User ID: 11273222
United States
07/28/2012 05:30 AM
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Re: Two More Banks Bite The Dust
This thread is 3 years old - why did you post here instead of opening a new thread?





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