netbank goes under due to mortgage defaults

Discussion in 'Wall St. News' started by blackjack007, Sep 28, 2007.

  1. I forgot I had a spare 500k in Netbank.

    Easy come easy go.

    I had an alert on NTBK to take the money out when it went under 6 cents. They pulled the plug early and I missed the window.
     
    #31     Sep 29, 2007
  2. vectors101

    vectors101 Guest

    you have to understand why the banks failed.

    excess credit lending and risk by the banks.

    if it wasn't for the FDIC the depositors would have loss all their savings deposits.


     
    #32     Sep 29, 2007
  3. vectors101

    vectors101 Guest

    it's the responsibility of the FED to 'regulate' the financial system too not just bail it out.



     
    #33     Sep 29, 2007
  4. vectors101

    vectors101 Guest

    the bank was using your money to make bets in the wall street casino!

     
    #34     Sep 29, 2007
  5. mekas

    mekas

    It's not uncommon in the financial world to use the suffix "M" to mean "thousand", "MM" to mean "million".
    and "MMM" to mean "thousand-million" ("billion" in the US).
    This can be confusing as another convention is to use "K" for "thousand" and "M" for "Million".
    "$100M" could mean "100 million dollars" or "100 thousand dollars" depending on the convention being used.
     
    #35     Sep 29, 2007