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Folks, please have a follow-up segment, focusing on the details of FDIC insurance and how one should structure one's accounts, in order to minimize the risk of losing one's deposits if the bank goes under.
Perhaps invite a guest from FDIC, if possible.
"...75 year track record"
yeah, but what about the Black Swan guys?
What about the long tail and the slim probability that a lot of big banks blow up at the same time.
That hasn't happened in 75 yrs and never would have.
Get Nassim Nicholas Taleb on the show to comment about what is going on in this market.
you guys are focusing on the fear angle of the story, ie will i lose my money.
please focus on the OPPORTUNITIES too
(NPR has a habit of playing gloomy economist rather than person)
re: question 4 a bit further - what about long-term home loans at a fixed rate, can those be altered by a buyer of the bank any? do the rules change when a banking institution is purchased as opposed to a non-regulated institution like bearSterns?
WAMU Accounts Question: I am involved in some real estate investment properties for which WAMU holds the mortgages. What implications does the bank's situation have for those mortgages?
I ask because, until last year the underlying mortgage on the coop in which I live was held by Independence Bank, which was acquired by Sovereign Bank. Several serious problems developed when the bigger bank took over.
What happens to mortgages and other loans one might have with WAMU?
How do you find out if your bank is in trouble, and when looking for a new back, how do you go about finding one that's not going to go under in six months?
How does the recent news about Wamu affect people who have home loans through them?
Will the FDIC be able to survive? They are talking about raising the insurance premiums and there is talk that FDIC is not safe:
i happen to love vietnamese noodle soup. what is the chance that most of the wamus and citibanks might convert to shops selling vietnamese noodle soup? (by winter pls)
So is this THE week (of the decade)? Smart money day traded the heck out of FNM last wk and shorted bank stocks. What is left?
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