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#1
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
Many places also offer free SIPC insurance to supplement FDIC insurance. Generally this insures you for between $500k and $10M, and is quite reliable. I would check the fine print for whichever place you want to deposit to see if they provide this added insurance. I would think Charles Schwab or other brokerages would be most likely to.
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#2
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
I would NOT put your money into Washington Mutual. Look at their stock price and default swaps....
Bank of A and citi are both safe. I'd say Schwab is safe as well, but thats a money market and not a CD though right? Different risks there. My original answer was the best one for the lazy man who doesn't want to think about it or worry about default risk. The extra insurance is insanely cheap and easy to get, just have to ask for it when you walk in. In this environment the bank may even pay it for you. SteveOMS |
#3
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
Banks are rated by people at Moody's and S&P. You can check the rating for considered institutions and go with the best one. There is also Bank Rate's rating: http://www.bankrate.com/brm/safesound/ss_home.asp I don't know if Bank Rate's rating is just a gimmic or a solid assesment (never heard of it) but Moody's and S&P data is what you should be looking at. |
#4
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
After I attempted to give some sound advice,and reply to your post....your reply of "I am too lazy to figure out where to put my MILLION dollars"...this is either a thinly veiled brag post..or just plain STUPIDITY
There are PLENTY of 2+2 members in BFI,that would LOVE to have "your million $$$ problem"...and would digest any useful information this forum may produce from the many intelligent posters. This is a "NICE" example you are setting(LOL)... for the younger/novice investors,as I would expect MUCH more from you.If you can compute,compare or even care about your <.05% loss worry.....what was the purpose of your post in the first place? Just drive to the nearest BOA branch...tell them how lazy you are.....deposit your $1MM in ONE five year CD at whatever interest rate they give you,....and "hope" your principle + interest is still there in 2012 I am pretty shocked right now,as I guess I would expect more from someone like you in BFI I am also THRILLED I didnt give you the sound advice I was sincerely going to suggest prior to me asking you some simple questions in my previous post...making you many times more than a standard CD will return w/o risk! Very Disappointed, Stephen Feraca [img]/images/graemlins/confused.gif[/img] |
#5
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
[ QUOTE ]
I appreciate the advice but the posters here do not understand the degree of my laziness. Let's simplify the question. [/ QUOTE ] lol, douchebag |
#6
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
stephen
I used to think you were a douche from reading hsnl and all that garbage but your posts on the forum are awesome. |
#7
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
[ QUOTE ]
After I attempted to give some sound advice,and reply to your post....your reply of "I am too lazy to figure out where to put my MILLION dollars"...this is either a thinly veiled brag post..or just plain STUPIDITY There are PLENTY of 2+2 members in BFI,that would LOVE to have "your million $$$ problem"...and would digest any useful information this forum may produce from the many intelligent posters. This is a "NICE" example you are setting(LOL)... for the younger/novice investors,as I would expect MUCH more from you.If you can compute,compare or even care about your <.05% loss worry.....what was the purpose of your post in the first place? Just drive to the nearest BOA branch...tell them how lazy you are.....deposit your $1MM in ONE five year CD at whatever interest rate they give you,....and "hope" your principle + interest is still there in 2012 I am pretty shocked right now,as I guess I would expect more from someone like you in BFI I am also THRILLED I didnt give you the sound advice I was sincerely going to suggest prior to me asking you some simple questions in my previous post...making you many times more than a standard CD will return w/o risk! Very Disappointed, Stephen Feraca [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] You are way too sensitive. Everybody knows that I have a lot more than a million dollars so how was it bragging? And everybody knows that I know that putting money in the bank is one of the worst ways you can use it. But since I decided to do it purely because I am too lazy to go to any trouble at all for an extra 20K a year, it brought up the interesting question of whether the utterly horrible rate that BofA offers is even remotely related to the diminshment of risk. I suppose I could have asked the question in that form rather than have embellished it with my personal situation. But that was just window dressing to make the post less dry. I realize you were just trying to be helpful, but as I said, the main reason for my post was that I was curious about the probability that banks will lose uninsured deposits. It was really a political question that justhappens to have a tiny effect on my life. If I heard anyone else on this forum put a million dollars in a bank CD, I would have them flogged. |
#8
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
[ QUOTE ]
[ QUOTE ] After I attempted to give some sound advice,and reply to your post....your reply of "I am too lazy to figure out where to put my MILLION dollars"...this is either a thinly veiled brag post..or just plain STUPIDITY There are PLENTY of 2+2 members in BFI,that would LOVE to have "your million $$$ problem"...and would digest any useful information this forum may produce from the many intelligent posters. This is a "NICE" example you are setting(LOL)... for the younger/novice investors,as I would expect MUCH more from you.If you can compute,compare or even care about your <.05% loss worry.....what was the purpose of your post in the first place? Just drive to the nearest BOA branch...tell them how lazy you are.....deposit your $1MM in ONE five year CD at whatever interest rate they give you,....and "hope" your principle + interest is still there in 2012 I am pretty shocked right now,as I guess I would expect more from someone like you in BFI I am also THRILLED I didnt give you the sound advice I was sincerely going to suggest prior to me asking you some simple questions in my previous post...making you many times more than a standard CD will return w/o risk! Very Disappointed, Stephen Feraca [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] You are way too sensitive. Everybody knows that I have a lot more than a million dollars so how was it bragging? And everybody knows that I know that putting money in the bank is one of the worst ways you can use it. But since I decided to do it purely because I am too lazy to go to any trouble at all for an extra 20K a year, it brought up the interesting question of whether the utterly horrible rate that BofA offers is even remotely related to the diminshment of risk. I suppose I could have asked the question in that form rather than have embellished it with my personal situation. But that was just window dressing to make the post less dry. I realize you were just trying to be helpful, but as I said, the main reason for my post was that I was curious about the probability that banks will lose uninsured deposits. It was really a political question that justhappens to have a tiny effect on my life. If I heard anyone else on this forum put a million dollars in a bank CD, I would have them flogged. [/ QUOTE ] David, i think we all know the real solution to the problem of you having $1million you don't want to have to worry about +/- 20k: [img]/images/graemlins/smile.gif[/img] Barron |
#9
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
David,
First of all I dont care if you have $200MM(and I dont want to get into embarassing you in a pissing contest ...lol)...but your first line of your reply blows your cover,and validates my response/POV: Everybody knows that I have a lot more than a million dollars so how was it bragging Word to the wise sir, You may enjoy kissing YOUR mirror in the morning when you wake up...but I can see through the other side of the glass my friend...as you are NOT impressing some 17yr old HS kid here Dont make a fool of yourself any longer than you already have.The average age/experience level/IQ on the WHOLE 2+2 website IS very low lately....but since I started posting/reading BFI the last few weeks....its been a pleasure to help,lead,guide as well as LEARN myself about any and all subjects pertinent to ones financial growth along with life type situations/questions You can tell Mason & Co. to BLOW UP the other 20+ forums on this website for all I care,because no one would miss them in the least bit...EXCEPT the group I described above.The quality of posts/threads on 2+2 has diminished to ZERO....except for BFI in my opinion,and I hope each time I post/reply....I may help someone in some way,shape,or form I have recieved more PM's since posting in BFI,than you could imagine.....and I LOVE responding to everyone of them...just I as "tried" to do with you in the original post Your ignorant reply belongs in the NVG forum,where it would fit like a glove for Christ sakes I actually dont know what else to say? Stephen Feraca [img]/images/graemlins/confused.gif[/img] ***if you want to BAN me...please do so....you have the BADGE......so feel free if you cant handle brutal honesty. |
#10
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Re: Are Any Non Mega Banks Safe Enough To Ignore 100K FDIC Limit?
You are wrong. Period. The million bucks was mentioned only because it is way over the FDIC insurance. My personal situation was mentioned only to put a little flavoring on the question regarding banks chances of not paying off non insured deposits.
And I have never banned one person from this website. |
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