>>>You are really Miss FUD these days, aren't you?
>>
>>I guess I shouldn't have shared the information. Spreading FUD was definitely NOT my intention and it is too bad you took it that way. Given your many many negative posts in the past about the current administration, I am surprised. I figured it was something those here would want to know. Just cover your eyes and plug your ears Mike and all will be well :o)
>
>Doesn't matter whether the news of this spread or not. What matters is whether you heard on time, and whether you were able to do something on time or not.
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>Though, my wife said that this is because the deposits above $100K aren't FDIC insured, or something like that, so the rats are abandoning the ship. Now what is it that they know that we don't? Did they hear someone shouting "fire in a full theater"? And, even if this is just a elbow-jerk reaction, is it sufficient, as such, to start an avalanche? Then, if the avalanche rolls, this being the electronic era, it would take weeks for people to get their money out... just as it takes about zero seconds to have the money taken off your account if it goes to someone else (but this Else guy will see the dough in a few days, if he's lucky)... so if the avalanche rolls, will FDIC mean anything? The gov't isn't the most stable financial institution nowadays, their fiscal credibility is shredded. They owe incomprehensible amounts of money.

That was my comment to my friends. It's taking a situation in a critical point in time and pushing it past the breaking point. It's creating a disaster out of a small sized mountain. They got wind of a dow crash coming on top of the banks failing...

Now the latest news doesn't support that (in fact the opposite), however, we've seen this go up and down before in history before a major major crash.