How is your Bank doing?

Here is a link I found somewhat useful. It is to a page on the FDIC website, where you can type in and see how your bank is doing. It has the stats for last year compared to this year. If it has already been posted, sorry.

FDIC Bank Search

Right now, all Banks are suffering with a strange disease called, "Shock and All"

These Banks are not Banks, but rather should be refered to from now on as the "Banksters"

I'm fortunate that my mother is the state credit manager of the bank I'm in.

I'm withdrawing my entire savings on Friday.

I use a credit union, so I do not think I need to worry as much, though I do not have over 100,000 in there anyway.

I did check in though to see how the bank is that holds my mortgage.

What would happen if a major bank that holds a lot of mortgages went under, what happens to those? Are they auctioned off?

If they are bailed out, are they not in essence then getting the money twice on the same mortgage paper? Or do they have to pay back the money used to bail them out?

with the posting of record profits each year, it sounds like my bank is doing fine.

damn >snip< taking my money !!!!!

Originally posted by NuclearPaul
I'm fortunate that my mother is the state credit manager of the bank I'm in.

I'm withdrawing my entire savings on Friday.

Why? It's FDIC insured, your deposit isn't going anywhere, you are simply hurting the bank by withdrawing. More often than not it's the bank runs that cause the banks to collapse, when without the runs they would have survived. I have my money in a credit union, and I don't really have much in there anyhow

Originally posted by amatrine
I use a credit union, so I do not think I need to worry as much, though I do not have over 100,000 in there anyway.

I did check in though to see how the bank is that holds my mortgage.

What would happen if a major bank that holds a lot of mortgages went under, what happens to those? Are they auctioned off?

If they are bailed out, are they not in essence then getting the money twice on the same mortgage paper? Or do they have to pay back the money used to bail them out?

They usually will just a capital injection to keep them liquid, most mortgage banks are only around a 1% default rate. In most cases they will raise capital using the Fed's discount window and will borrow at a ~2% rate. With Fannie and Freddie they do not have access to the discount window and they hold ~80% of home mortgages. If they were to go under the banks that sold the mortgages to those firms would have to buy them back in auction.

WHO ARE THE REAL OWNERS OF THE FEDERAL RESERVE?

1. Rothschilds of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York