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re: If you bank at one of the orange banks, gonna be a hell of a week

Posted on 3/12/23 at 10:20 pm to
Posted by TheHarahanian
Actually not Harahan as of 6/2023
Member since May 2017
23944 posts
Posted on 3/12/23 at 10:20 pm to

Looks like Morgan Stanley is in good shape. That includes eTrade.
Posted by Gusoline
Jacksonville, NC
Member since Dec 2013
10953 posts
Posted on 3/12/23 at 10:27 pm to
My measley 25K is in a credit union.
Posted by jonnyanony
Member since Nov 2020
15226 posts
Posted on 3/12/23 at 10:39 pm to
quote:

People have far more confidence in CU's so they could sustain fewer runs to begin with


Probably but that's not how a panic actually goes down

Counting on a panic to happen more slowly and rationally is not a great strategy
This post was edited on 3/12/23 at 10:40 pm
Posted by teke184
Zachary, LA
Member since Jan 2007
104098 posts
Posted on 3/12/23 at 10:43 pm to
Pretty sure HW ended up with a ton of branches as part of the merger that brought the two together and they have been trying to shed branches for years as a result.
Posted by Herooftheday
Member since Feb 2021
3830 posts
Posted on 3/12/23 at 10:44 pm to

quote:

Bank at a credit union 



Credit Unions are a member-owned and controlled financial cooperative.
Posted by Gaggle
Member since Oct 2021
7286 posts
Posted on 3/12/23 at 10:46 pm to
Big banks go this week
Credit unions go next week
Hyperinflation a few weeks later

Is a quick chaotic panic process in which we all die from cannibal hordes but still makes the OP true
Posted by teke184
Zachary, LA
Member since Jan 2007
104098 posts
Posted on 3/12/23 at 10:48 pm to
FYI - If you want to be eating rather than eaten, I recommend investing in canned goods and shotguns.
Posted by Alltheway Tigers!
Baton Rouge
Member since Jan 2004
8027 posts
Posted on 3/12/23 at 11:00 pm to
quote:

Seems CU's more likely to have more reserve on hand because they are local member owned and nonprofit. People have far more confidence in CU's so they could sustain fewer runs to begin with


Oh my. CU supervision is worse. Harder to see because their standard financial statements are harder to read and they have zero shareholders. No shareholders means no analyst looking over the backs of management.

If you think CUs have a better risk management framework then please place all your money there and best of luck to you.
Posted by Gaggle
Member since Oct 2021
7286 posts
Posted on 3/12/23 at 11:12 pm to
Isn't there a lot less to supervise. They're a local nonprofit. They're not spread out in investments everywhere like banks. We're talking about surviving a run. It's an infinitely smaller pool to begin with.
What percentage of all accounts combined deposited funds does BoA have on hand cash, versus a local CU?
This post was edited on 3/12/23 at 11:15 pm
Posted by Asleepinthecove
Lafayette
Member since Jan 2023
2203 posts
Posted on 3/12/23 at 11:41 pm to
Probably a stupid question but is the JPM, Chase bank or is the C chase bank?
Posted by Pendulum
Member since Jan 2009
8059 posts
Posted on 3/12/23 at 11:46 pm to
Jpm is JPMorgan chase.

C is citibank
Posted by Chingon Ag
Member since Nov 2018
4131 posts
Posted on 3/12/23 at 11:53 pm to
Schwab is all sorts of fricked I believe.
Posted by Taxing Authority
Houston
Member since Feb 2010
63500 posts
Posted on 3/13/23 at 12:23 am to
What the criteria for “danger”?
Posted by LordSaintly
Member since Dec 2005
43204 posts
Posted on 3/13/23 at 12:28 am to
quote:

If I have a credit card with them, I don't have to pay it now, right?


That debt would be sold to someone else, so no escape.
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7639 posts
Posted on 3/13/23 at 1:03 am to
Capital One is safe
Posted by white perch
the bright, happy side of hell
Member since Apr 2012
7639 posts
Posted on 3/13/23 at 1:07 am to
quote:

Schwab is all sorts of fricked I believe.


How so?

And also, how is vanguard doing in all of this.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
59315 posts
Posted on 3/13/23 at 6:09 am to
If a bank fails, what happens to loans they've made? For example, to whom would you pay your mortgage and how?
Posted by Armymann50
Playing with my
Member since Sep 2011
22403 posts
Posted on 3/13/23 at 6:17 am to
i don't see BOA on that list
Posted by the_truman_shitshow
Member since Aug 2021
2790 posts
Posted on 3/13/23 at 6:20 am to
BAC

Bank of America Corp
Posted by GoldenGuy
Member since Oct 2015
12782 posts
Posted on 3/13/23 at 6:30 am to
quote:

#7 TFC


Do you mean TCF?

Because that slides this whole thing into the “Doubtful” category
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