what are the chances FDIC wont be able to honor the insurance policy for < $100,000. i have money in WM and I know it is likely to go down. should i "trust" the fdic will give me my money back when WM fails.
FDIC has a line of credit with the Treasury. It will be honored, but the banks and the taxpayers are fucked.
FDIC is really a tax charged to the banks and disguised as insurance. Consumer confidence builder. This run on our banks is trouble... A domino effect as we are experiencing will cause serious problems... In the end the premiums collected by FDIC are invested where with and by whom? Treasury prints more cash... The Worldâs safest Banks 2004 Rank Name Country Fiscal Year Total Assets in $B 1 Mizuho Financial Group Japan 3/2004 1,285.7 2 Citigroup United States 12/2003 1,264.0 3 UBS Switzerland 3/2004 1,120.6 4 HSBC United Kingdom 12/2003 1,034.2 5 Deutsche Bank Germany 3/2004 1,014.8 6 Crédit Agricole France 12/2003 992.7 7= BNP Paribas France 12/2003 988.9 7= Mitsubishi Tokyo Financial Group Japan 3/2004 988.9 9 ING Groep Netherlands 3/2004 983.5 10 Sumitomo Mitsui Financial Group Japan 3/2004 950.5 11 Royal Bank of Scotland Group United Kingdom 12/2003 806.2 12 Credit Suisse Group Switzerland 12/2003 777.9 13 Barclays Bank United Kingdom 12/2003 776.7 14 JPMorgan Chase United States 12/2003 770.9 15 UFJ Holdings Japan 3/2004 762.1 16 Bank of America United States 12/2003 736.4 17 HBOS United Kingdom 12/2003 728.9 18 ABN AMRO Netherlands 12/2003 707.8 19 Société Générale France 12/2003 681.2 20 Fortis Belgium 12/2003 653.5 21 Industrial & Commercial Bank of China China 12/2003 637.8 22 Morgan Stanley United States 2/2004 602.8 23 Dresdner Bank Germany 12/2003 602.5 24 Bayerische Hypo-und Vereinsbank Germany 3/2004 597.6 25 Rabobank Group Netherlands 12/2003 509.4 26 Norinchukin Bank Japan 3/2003 506.7 27 Merrill Lynch United States 3/2004 494.5 28 Commerzbank Germany 3/2004 481.7 29 Groupe Caisse d'Epargne France 12/2003 480.8 30 Groupe Caisse des Dépôts France 12/2003 480.0 31 Bank of China China 12/2003 464.2 32 Dexia Belgium 12/2003 441.4 33 Banco Santander Central Hispano Spain 3/2004 437.5 34 China Construction Bank China 12/2003 429.4 35 DZ Bank Germany 12/2003 406.7 36 Goldman Sachs Group United States 11/2003 403.8 37 Sakura Bank Japan 3/2001 402.6 38 Landesbank Baden-Wuerttemberg Germany 12/2003 395.0 39 Wells Fargo United States 12/2003 387.8 40 Bayerische Landesbank Germany 12/2003 380.0 41 KfW Group Germany 12/2003 379.7 42 Resona Holdings Japan 3/2004 366.3 43 Lloyds TSB Bank United Kingdom 12/2003 363.6 44 Agricultural Bank of China China 12/2002 359.6 45 Banco Bilbao Vizcaya Argentaria Spain 12/2003 356.9 46 NRW Bank Germany 12/2002 356.8 47 Nordea Bank Sweden 12/2003 331.1 48 Almanij Belgium 12/2003 327.9 49 Banca Intesa Italy 3/2004 327.4 50 WestLB Germany 12/2003 321.6 Cash is King and in 2004 we only held 2,14,16,22,27,36 and now..... April 2008: http://www.bankersalmanac.com/addcon/infobank/wldrank.aspx None in the top 10... A lot of smart people here analyzing companies to buy stock.... Would you invest in the USA or start looking for alternatives? When we outsource our intellectual capital, jobs and manufacturing we in essence outsource the economical benefits. A little off topic but let me see if i understand our government. We are sending billions in aid to other Countries. We are at war... Our Largest Investment banks are failing, Our jobs have already been outsourced. Our People are losing their homes.... Our people are cashing pensions and savings accounts... Most of our commodity products come from China 10% of our people are on food stamps. "Nearly 28 million U S citizens depend on coupons to eat, a situation constantly increasing because of unemployment and the high price of food, said US newspaper- USA Today on Monday. USA Today said difficulties to subsist are so many, that even people with a high cultural level cannot escape from then. "It is inconceivable to see myself in such a condition, especially when you have a pride," said Ohio resident Philomena Gist, a woman with a Master Degree in Psychology. The newspaper said no one of the millions of people needing help to eat, should be placed in such a category, and the number of needed people goes over the record established in 1994. While these US citizens are fighting for taking their homes something to eat, politicians are discussing other topics and economists debate if they are on a recession or not, said the U.S. influential newspaper. The costs of food and fuel are increasing since 2006, and now these phenomena are combined with loss of jobs, and the standstill of salaries, which rocketed the number of US citizens urged on a support. US citizens depending on coupons to eat, represent nearly 10 per cent of the US total population." FDIC will never need to pay any claims cause any failed bank and its assets will be sold to a foreign bank... penny's on the dollar.