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Lsut81
USA Fan
Member since Jun 2005
66249 posts

re: Cyprus strikes deal for EU bailout finally

So the reason they targeted over 100k Euros is because those weren't guaranteed by the govt...

Note to self, don't have more than the FDIC guaranteed funds in an account, ever


GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
30840 posts

re: Cyprus strikes deal for EU bailout finally
quote:

Note to self, don't have more than the FDIC guaranteed funds in an account, ever


It's going to be hard managing hundreds of accounts.


LSURussian
LSU Fan
Member since Feb 2005
85179 posts

re: Cyprus strikes deal for EU bailout finally
quote:

It's going to be hard managing hundreds of accounts.
Believe me, it is......


ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
7696 posts

re: Cyprus strikes deal for EU bailout finally
Someone gif Obama with a "lightbulb" above his head.



Zahrim
Colorado Fan
McCamey Texas
Member since Mar 2009
4683 posts

re: Cyprus strikes deal for EU bailout finally
if you can have hundreds of accounts like that, you can afford to pay someone to manage them for you :)


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CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Cyprus strikes deal for EU bailout finally
If someone does it, the light bulb has to be a new fangled enviro friendly model that produces less lumens than an incandescent one.


GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
30840 posts

re: Cyprus strikes deal for EU bailout finally
Serious question: do FDIC rules apply to each account or each banking institution? For example, if you have $500K in savings can I open two separate accounts at Bank of America or do I need to open one account at Bank of America and the other at Wells to maintain FDIC protection on the full $500K (assuming $250K in each account)?


Zahrim
Colorado Fan
McCamey Texas
Member since Mar 2009
4683 posts

re: Cyprus strikes deal for EU bailout finally
quote:

the light bulb has to be a new fangled enviro friendly model that produces less lumens than an incandescent one.


you mean the CFL's that have mercury in them and have a slew of hazmat requirements if you break one and aren't allowed to throw them into the trash?

That said that is the only bulb i have in my home and have no issues with their light output and have only had to change 2 of them in the past 8 years.


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LSURussian
LSU Fan
Member since Feb 2005
85179 posts

re: Cyprus strikes deal for EU bailout finally
quote:

do FDIC rules apply to each account or each banking institution?
Neither, really.

It's $250,000 for each unique owner of an account.

For example, a married couple (sorry, Toddy) can have an account in the husband's name, the wife's name and a joint account in both their names and have the full $250,000 coverage on all three accounts for a total of $750,000.

However if either of the spouses has another account at the same bank, it won't be insured if the other 3 accounts are maxed out at the $250,000.

This can be done as many times at different banks as the couple needs to insure all of their balances at all the banks.


GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
30840 posts

re: Cyprus strikes deal for EU bailout finally
Good info.


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ironsides
LSU Fan
Nashville, TN
Member since May 2006
7385 posts

re: Cyprus strikes deal for EU bailout finally
quote:


So the reason they targeted over 100k Euros is because those weren't guaranteed by the govt...


Wait - I thought the reason is that most Cypriot voters don't have bank accounts over 100k Euros but the wealthy russians that do have those bank accounts don't vote?

This whole thing is so very shady. You can talk all you want about soaking the rich that have those accounts, btu really what is going on is the EU is soaking rich Russians in favor of rich Germans. I would be very cautious - wouldn't mess with Russians if I was a wealthy german banker.

If you're going to rob someone, don't rob the guy with a gun.


LSURussian
LSU Fan
Member since Feb 2005
85179 posts

re: Cyprus strikes deal for EU bailout finally
quote:

the EU is soaking rich Russians

Russian oligarchs have used Cypriot banks as their own personal money laundering ATM's for the past 20 years. The EU wants to punish them for doing that and because since the Russian money helped break the Cypriot banks, the Russians will help pay to fix the banks.

Watch for some Cypriot politicians and ministers to die mysteriously over the next year or so.


CITWTT
LSU Fan
baton rouge
Member since Sep 2005
31765 posts

re: Cyprus strikes deal for EU bailout finally
A pissed off Russian is generally not a good thing to have on hand. They play a very mean game of hardball.


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CarrolltonTiger
LSU Fan
New Orleans
Member since Aug 2005
46985 posts

re: Cyprus strikes deal for EU bailout finally
quote:

Russian oligarchs have used Cypriot banks as their own personal money laundering ATM's for the past 20 years.


Exactly, the hogs are getting gored.

I read that 25% of the deposits in Cypriot banks are from Russians. Russian thieves are stabilizing the banking system of Cyprus largely with loot they stole from Russia.


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llfshoals
Alabama Fan
Member since Nov 2010
1401 posts

re: Cyprus strikes deal for EU bailout finally
quote:

Watch for some Cypriot politicians and ministers to die mysteriously over the next year or so.


I'd be very much surprised if there's anything mysterious about it at all.

Being dumped dead and naked with your mouth stuffed full of small denomination Euros in front of a bank would be rather obvious I'd think.


ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
7696 posts

re: Cyprus strikes deal for EU bailout finally
Not a question of "if" but "how many". Should make and bookmark an over/under thread


RCDfan1950
LSU Fan
United States
Member since Feb 2007
13483 posts

re: Cyprus strikes deal for EU bailout finally
The more pertinent aspect of the whole Cyprus scenario is the PRECEDENT of a failing economic government being tied into private banking accounts. Don't think for one minute that the Commies (by degree) over here aren't having the a ha moment.

Or that in a time of fiscal collapse that private savings in banks will remain *insured*, by the very Fed (FDIC) that is collapsing. Gee whiz!

Given the rates...is anybody other than Ben Bernacke putting money in banks now, anyway?

Hell...it's like Quantum Economics...plum frickin unqualifiable as it relates to the 'real' world.

Whatever. Gotta cover the tomatoes tonight.


bigwheel
LSU Fan
Lake Charles
Member since Feb 2008
3142 posts

re: Cyprus strikes deal for EU bailout finally
It will come to the U.S. in 5 years


LSURussian
LSU Fan
Member since Feb 2005
85179 posts

re: Cyprus strikes deal for EU bailout finally
quote:

It will come to the U.S. in 5 years

Posters on this board have been predicting the imminent collapse of the U.S. economy since 2007.


RCDfan1950
LSU Fan
United States
Member since Feb 2007
13483 posts

re: Cyprus strikes deal for EU bailout finally
Interesting caller on Rush now. Says that - in effect - our government IS seizing money from 401ks RIGHT NOW.

Here's his take: Bernacke creates money for the government to deficit spend; at the same time they MANIPULATE the inflation numbers. At the point of Bernacke's inability to create more money (for whatever reason), the Stock Market takes a serious dive and the 401s go south with it. So, in essence...the government has and is SPENDING the money in the 401ks, through it's QE policy.

His assessment sounds solid...not that it matters to me; other than many of the folks who buy my good/service, do have 401s. Heck...I spent may saving on garden seed, fertilizer and equipment.

I do remember a lot of commentary re government seizure of k's...pretty ugly.


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