Need more banks

uscitizen

uscitizen

Villified User
For those of you with MBA's and such.
Money in a bakn is covered by FDIC up to 200K or so right ? (I need to get the details).
So I guess if you have more money than that you just put it in other banks ?
And if they are all owned by one bank are they for legal purposes only covered for 200K for all their branches and subsidiaries ?

Hope this made sense, I am on quite a few pain pills right now.
 
uscitizen said:
For those of you with MBA's and such.
Money in a bakn is covered by FDIC up to 200K or so right ? (I need to get the details).
So I guess if you have more money than that you just put it in other banks ?
And if they are all owned by one bank are they for legal purposes only covered for 200K for all their branches and subsidiaries ?

Hope this made sense, I am on quite a few pain pills right now.
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No, you use brokerage firms with higher levels of insurance than the mandatory FDIC insurance.
 
I don't want all my money in the market when it falls down. If it falls down the private insurance would be kaput.

I will be investing enough to keep me going, the rest I want when I want it.

Does anyone know if the FDIC law is for each physical bank or a total for a bank company ?
 
uscitizen said:
I don't want all my money in the market when it falls down. If it falls down the private insurance would be kaput.

I will be investing enough to keep me going, the rest I want when I want it.

Does anyone know if the FDIC law is for each physical bank or a total for a bank company ?
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They have Money Market accounts with higher rates of interest. You can also get CDs and Bonds through those firms. In fact, they would invest differently for you as you would likely want usage of your money.

Splitting it up between banks in such a manner is too time ineffective.
 
Maybe time ineffective but more secure.
If the market crashes, there is not enough money out there to cover investments.

I will have to check with the FDIC on the FDIC coverage and what it really means. Just one physical bank or is the FDIC max for all deposits that I might have in one chain of banks.
 
uscitizen said:
Maybe time ineffective but more secure.
If the market crashes, there is not enough money out there to cover investments.

I will have to check with the FDIC on the FDIC coverage and what it really means. Just one physical bank or is the FDIC max for all deposits that I might have in one chain of banks.
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Check into the brokerage firms I spoke of. They can give reassurance in the particular investments. Not all the investments they offer are banks or the market, they have a whole host that you can use to protect your interest without attempting to separate it out through banks.

Where is LadyT and Rob when you need them...
 
LadyT surely, But Rob ? last I heard he was into hedge funds which are a catastrophe waiting to happen.
 
uscitizen said:
LadyT surely, But Rob ? last I heard he was into hedge funds which are a catastrophe waiting to happen.
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But he could tell you that there are other offerings available. And you would believe him. You seem to think brokerage firms will only put your money into the stock market, they have tons of available investments with insurance that can cover your belief that everything will crash, or that somebody may run off with your cash.
 
Check into Raymond James and Assoc. Call get some information before you attempt to separate all your cash into FDIC insurable bundles.
 
Naw...

Banks are the devil..we need em' but that does not mean they can continue to abuse us...I have a 'zero' credit rating...Have not used credit for 5years...I own all my toys...worked hard for em'..I do not spend anymore than I have available in my account...this is true financial security for y'all wannabees who play the credit game...Banks love ya...lol
 
I have only used credit a couple of times in the past 10 yrs or so. bought my homestead and some investment property. Except for a home or property I live on the cash principle. If I don't have enough cash to buy it I don't buy it.
I also go on the need aspect for the most part. I could go and pay cash for a nice new vehicle, but don't need one so I don't get one.

Yep most of the banking laws are to protect the banks not the depositors.
 
uscitizen said:
ROTFLMAO. I know 3 Raymond James brokers. One of them might be able to find their own ass.
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Well, excuse you usc! We don't all have these high-falutin problems.

Ohh, I don't know where I'm going to keep all my cash, and my diamond shoes are pinching my feet, and I have too many cars and not enough garages.
 
uscitizen said:
ROTFLMAO. I know 3 Raymond James brokers. One of them might be able to find their own ass.
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They are the number 1 brokerage firm in CO. And one of the best earners in the nation. Luckily no single broker makes decisions, they have a different way of deciding where to invest.
 
Darla said:
Well, excuse you usc! We don't all have these high-falutin problems.

Ohh, I don't know where I'm going to keep all my cash, and my diamond shoes are pinching my feet, and I have too many cars and not enough garages.
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Sorry Darla, just got to wondering about the FDIC insurance aspect.
I will have about 500k to do something with in a couple of weeks.
I figured with all these degreed folks on here that someone would know about the limits on the FDIC insurance.

It is kinda nice to rub it in on spinner though :D
 
uscitizen said:
Sorry Darla, just got to wondering about the FDIC insurance aspect.
I will have about 500k to do something with in a couple of weeks.
I figured with all these degreed folks on here that someone would know about the limits on the FDIC insurance.

It is kinda nice to rub it in on spinner though :D
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It's ok. I'm really bored at work right now, I probably won't be for long, but now I am. And I'm trying to pick a fight with someone. I think I might have worked something up with Damo on another thread. You know how easy he is to antagonize.

I hear you on spinner.
 
I am not particularially bored, just drugged up and in pain....
Yeah I guess I am in a mood to pick a fight as well ;)
 
Shit....

Darla said:
It's ok. I'm really bored at work right now, I probably won't be for long, but now I am. And I'm trying to pick a fight with someone. I think I might have worked something up with Damo on another thread. You know how easy he is to antagonize.

I hear you on spinner.
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Damn...pick a fight with me...I have daughters your age...I like to be the fatherly example...ask and I will set ya straight......then again maybe not...lol
 
You're in pain............?

uscitizen said:
I am not particularially bored, just drugged up and in pain....
Yeah I guess I am in a mood to pick a fight as well ;)
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and need 'Thai sticks' to ease the pain..along with alot of other stuff..how sad..how truly sad...Sgt...! I live with pain all day long 24/7 but don't go this route...! Suck it up Sgt>>>!
 
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