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Serious Risk Warning - Many More Banks May Be At Risk

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banks go bust all the time. I cant confrim this for sure but think that the Hibernia Bank based in new orleans was taken over by Capital One because Hibernia had lent money for mortgages on houses in the crescent city. Hurrcane Katrina wiped billions off their books. Four days after Katrina I checked my money market account and $100k had disappeared. I spent two frantic days trying to find out what had happened and after two weeks the money reappeared in my account. A few weeks later it was announced that Capital One had taken over all Hibernia business.

The lesson is 'beware of banks' - your money is less safe than you think. If you cant afford to loose the deposits you have on account with vulnerble banks then cash in and move to government backed securities.

We really are heading for meltdown.

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Small banks get to fail. Large ones dont and of course get to buy the small ones to tighten the monopoly. Ever wonder how it was the two State owned banks (ex East Germany) that were allowed to go down and get taken over by private ones. Stinks don't it.

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banks go bust all the time. I cant confrim this for sure but think that the Hibernia Bank based in new orleans was taken over by Capital One because Hibernia had lent money for mortgages on houses in the crescent city. Hurrcane Katrina wiped billions off their books. Four days after Katrina I checked my money market account and $100k had disappeared. I spent two frantic days trying to find out what had happened and after two weeks the money reappeared in my account. A few weeks later it was announced that Capital One had taken over all Hibernia business.

The lesson is 'beware of banks' - your money is less safe than you think. If you cant afford to loose the deposits you have on account with vulnerble banks then cash in and move to government backed securities.

We really are heading for meltdown.

interesting reinforces my feeling that banks are just a bunch of ****

I believe the US is 12 months ahead of the UK.

I am going to keep as little cash in the bank as possible and any saving will be in physical gold and silver.

Its obvious really now i think about it that trusting banks with substantial savings when they lend with such criminal recklessness is asking for trouble.

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Sooooo let me get this right....

$100k disappeared out of ur account randomly... You looked for it for 2 days and couldnt see why so gave up... 2 weeks later it reappeared again..

And this is because the bank you had the 100k in went bust and then when another bank took it over they thought they had better put the money back into your account.. Even though the account you held was with a bank that went bust.. :blink::unsure::unsure:

Dont make sense to lil old me!

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thats cos you are a cynic. I spent two days on the phone and gave up when I realised the turmoil in new orleans which was of course largely under water. I suspect Hibernia needed to use the federal insurance plan. Who knows but I can tell you for sure the internet access showed about $120 left when in fact it contained around 100k.

Sooooo let me get this right....

$100k disappeared out of ur account randomly... You looked for it for 2 days and couldnt see why so gave up... 2 weeks later it reappeared again..

And this is because the bank you had the 100k in went bust and then when another bank took it over they thought they had better put the money back into your account.. Even though the account you held was with a bank that went bust.. :blink::unsure::unsure:

Dont make sense to lil old me!

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thats cos you are a cynic. I spent two days on the phone and gave up when I realised the turmoil in new orleans which was of course largely under water. I suspect Hibernia needed to use the federal insurance plan. Who knows but I can tell you for sure the internet access showed about $120 left when in fact it contained around 100k.

Well I would of kicked off big time and wouldnt of accepeted it because the bank decided to "borrow" it.

Unless you had an account where such activity was allowed! 100k even in dollars it a fair sum to just ignore when you think you know why its gone and the reason why you think it has gone is illegal!

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banks go bust all the time. I cant confrim this for sure but think that the Hibernia Bank based in new orleans was taken over by Capital One because Hibernia had lent money for mortgages on houses in the crescent city. Hurrcane Katrina wiped billions off their books. Four days after Katrina I checked my money market account and $100k had disappeared. I spent two frantic days trying to find out what had happened and after two weeks the money reappeared in my account. A few weeks later it was announced that Capital One had taken over all Hibernia business.

The lesson is 'beware of banks' - your money is less safe than you think. If you cant afford to loose the deposits you have on account with vulnerble banks then cash in and move to government backed securities.

We really are heading for meltdown.

...banks are not in the 'money' business ...they are in the risk business ..they buy it ..lend it..hedge it...and the key differentiator is managing that risk.....we will see over the next few weeks who the prize winners and the losers will be...... :o:o:o:P

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...banks are not in the 'money' business ...they are in the risk business ..they buy it ..lend it..hedge it...and the key differentiator is managing that risk.....we will see over the next few weeks who the prize winners and the losers will be...... :o:o:o:P

went to capital one bank today. Guess what I was offered the option to move from a checking account with zero % interest to one with 4%!!!

the market makers seem a little tired of risk for some reason.

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