Banks in serious trouble!

jasonfish320 · 09-15-08, 05:01 PM

Wow, as if things couldn't get any worse...Merrill Lynch gets acquired by BOA and Lehman brothers bank files the largest bankrupcy in U.S. history...NOT GOOD! Do we ever learn? They should never have allowed these crazy azz sub-prime & ARM mortgages. Now, it's only a matter of time until the other insitutions start going under, and then maybe a bank isn't the safest place to have my money afterall. According to the FDIC the government insures up to 100k, but that's crap because the insurances of the gov. are only backed by$50 billion and theres over $1 trillion dollars held by private individuals in U.S. bank accounts...hmmmm do the math!

09-15-08, 05:01 PM	#1
jasonfish320 BassFishin.Com Veteran Member Join Date: Apr 2007 Location: MAINEIAC Posts: 585	Banks in serious trouble! Wow, as if things couldn't get any worse...Merrill Lynch gets acquired by BOA and Lehman brothers bank files the largest bankrupcy in U.S. history...NOT GOOD! Do we ever learn? They should never have allowed these crazy azz sub-prime & ARM mortgages. Now, it's only a matter of time until the other insitutions start going under, and then maybe a bank isn't the safest place to have my money afterall. According to the FDIC the government insures up to 100k, but that's crap because the insurances of the gov. are only backed by$50 billion and theres over $1 trillion dollars held by private individuals in U.S. bank accounts...hmmmm do the math! __________________ "If at first you don't succeed; have another beer"

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