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Bracing For Bank Failures - The Fed Is Hiring...

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February 25, 2008 – Comments (3)

The fed is taking steps to ready itself to handle increased bank failures, expecting over 100.

As I have stated a few times, make sure you are diversified in where you do your banking.  Even if you don't have anything near the $100k insurance limit, it simply wouldn't be fun to find your bank account frozen when you've got bills to pay this month.  At the very least, have some emergency money in a second bank account. 

3 Comments – Post Your Own

#1) On February 26, 2008 at 12:12 AM, abitare (88.86) wrote:

dwot,

You should go listen to Jim Rogers on www.bloomberg.com. It is outstanding.

FYI - Jim Rogers joined Arnhold & S. Bleichroeder, where he met George Soros. That same year, Rogers and Soros founded the Quantum Fund. During the following 10 years the fund gained 4200% while the S&P advanced about 47%

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#2) On February 26, 2008 at 8:50 AM, CycleFreak7 (< 20) wrote:

dwot, I don't think that link in your post is correct.

Try this one instead.

FDIC - a government agency - is being proactive?! What is the world coming to?! Hey, if they are hiring more people in anticipation of numerous bank failures ... uh, yeah, bad sign. Very bad. 

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#3) On February 26, 2008 at 2:20 PM, dwot (46.92) wrote:

lol, thanks cyclefreak, lol, oops...

Flushing the economy down the toilet with google, I guess... 

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