"I wish I was a little more savvy," says the fellow who has lost money in an American bank. No one on this list should be unsavvy about the shape our banks are in, especially if they follow my links to Mish Shedlock.
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"I wish I was a little more savvy," says the fellow who has lost money in an American bank. No one on this list should be unsavvy about the shape our banks are in, especially if they follow my links to Mish Shedlock.
Posted in market intervention by John Wiley Spiers
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2 comments:
i do banking with both B of A and Washington Mutual and a very small bank but read your post and
http://money.cnn.com/2008/07/14/news/companies/bank_earnings/index.htm
and a do not know what to expect, i imagine i get back anything less than $100,000 but how to do business without a bank? postal money orders?
christina fyve
chris555@care2.com
(can no longer access my ecohealth@excite.com email since they "upgraded" it!
Govt policy is get big or get out. My guess is bank of America will be the big bank, and Wewlls Fargo will be the small bank when this is all over, and the process starts again... diversify. Silver coins? Gold coins? Prepaid debit cards? hedge bets by using several banks? Keep your mortgage money in the bank that has the loan, so you have a claim that matches your loss? I dunno...
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