Why are banks closing? and is our money save?

Question

Why are banks closing? and is our money save?

Answer 1

if we experience another 1929, FDIC will be the next big lie, they can not cover massive closings. there is language that you need to read in your banks records, like LLC in the name, could mean a limited partnership that the FDIC dont recognize, and wont cover, Indymac customers are learning a hard lesson on this.

Answer 2

banks are closing because the people they gave loans to are not paying them back. and yes your money is save (safe) if it is FDIC insured and does not exceed $100K.  Its a bit more complicated but thats the general idea.

Answer 3

Banks are actually places where cash is stored.That's all.

But then they began to use that money to "finance" their own

schemes. Then they began to think that they were powerful and could make important statements about the world economy etc etc. Then power corrupted them and they came crashing down. Humpty Dumpty!

Your money is never safe, these days. Not with such really

"intelligent" people like your bank manager around.

Answer 4

i just hope my bank closes so i don't have to pay my debts. some insane inflation would be great pay my old loans off for two hours worth of work at 5,000$ an hour.

Answer 5

banks realized some time ago that people who pay back the money they owe on time every time don't make as much money for them as people who pay back sometimes and then have penalties added...

so the banks gave too much cash to the later kind of borrower and that's whats caused the problems we have now

they took a risk and it back fired and we all have to pay for their mistakes and the really funny thing is not one of these bankers will ever see prison

Answer 6

The bank holiday was originally installed after teh Great Depression in order to give teh banks time to recover... it was because people were rushing into the banks to get their money that made them crash. The reason that banks close like that is so that your money stays safe. Because the bank has only a set number of dollars in the bank, so if everyoen goes in to get their money, teh bak will run out of money and everyone will lose all their savings. So Bank Holdiays ensure that that doesn't happen!

Answer 7

Our money is not safe by any means. Prices for certain things have quadrupled. Our money came into jepordy when our goverment sighned over control of it to a group of rich bankers (known as the fed reserve) in 1913. I have never and will never trust a bank. It's my money , why do you need to hold it for me? Any way to awnser your question directly, 1 becuase our standard of life is under attack 2 No, it's your money dont give it to them! Remember our dollars value at this pointin timeis worth .........are you ready......4 cents!!!!!!!

No our money is not safe, Ohh PS----->Hope no one missed me,BUT IMMMMM BACK LOL

Answer 8

My question would be is it our problem that the banks gave money to aspiring millionaires who didn't know what they were doing? If a banks gives money to people who are intending to risk the banks money with no intent to repay if their 'plan' fails, who is really at fault? Unsecured loans given at low interest for 18 months with ballon payments after that. Come on, the banks practiced methods that were not only stupid, but illegal or at the least unethical. Their greed caused them to gamble on stupid, but stupid didn't win. 1,000,000 people decided that they were going to follow the DVD on "Becoming a Millionaire on someone elses Money" all at the same time and suddenly 999,0000 houses couldn't get flipped....the only one to get 'rich' was the fake Australian accented DVD salesman.

After the banks took their credit card programs to 34% and above....Let them eat cake....