FDIC may borrow money from Treasury

[meca]

http://www.reuters.com/article/ousiv/idUSBNG28670420080827


Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.


wow FDIC getting ready. I hope Bank Of America collapses. Time to start accumulating a nice position in SKF again boys

[rmk]

oh boy

[Rap OSX]

Hahaha I love this
"Hope Bank of America collapses"

[meca]

http://www.reuters.com/article/ousiv/idUSBNG28670420080827


wow FDIC getting ready. I hope Bank Of America collapses. Time to start accumulating a nice position in SKF again boys

bump

[blackh3tter]

Today was the PERFECT day for Financial ETFs. Not just SKF,but FAZ shot up 40% (and it's 80%+ in the last 5 days). Meca im by no mean an expert trader but do you think the financial selloff will continue tomorrow?

[vettefever17]

Way, way, way over sold. Better get into FAS. I see resistance at 13, currently at 7.63.

[blackh3tter]

@vette:good call on FAS. Investors are scooping up financial stocks after one of the bloodiest day for banks.

[Kruzen]

If my money is in BoA right now where's a good place to get it to?

I've got savings with USAA and INGDirect

[skrilled]

If my money is in BoA right now where's a good place to get it to?

I've got savings with USAA and INGDirect

demand cash. dig a whole in your floor and put it in a floor safe which is fireproof.

[vettefever17]

Don't worry about losing cash past FDIC guarantees. If worse came to worse they'd just print another bailout. What you have to worry about is the value of the paper. The way the global economies are lagging dont expect a panic or run on US currency like thought about a month ago. The UK and Europe are having problems of their own. Also, remember, we will be the first nation out of this. We have went through stages that others havent felt the brink of yet.

Update of FAS. I think it is running out of steam. Watch the SP500 closely and watch overall market movement. Banks should move with them instead of being independent at this time. I have a feeling that FAZ will make gains tomorrow if futures look back in the morning till at least midday. Hopefully, futures are up and housing starts are good. If that happens you will have an over bought rally. Just keep close notice on charting for best results.

[TheUltimate]

Get out of big banks. I'd rather have my money then be owed it by the govt. right now. FCUS!