FDIC Seizes Republic First Bank, Sells It to Competitor
After today, it's all historical.
I lost a bit of money betting on First republic. Seems the Fed picks and chooses winners.
And the next domino has fallen...
I recommend anyone in a regional bank pull their funds as they can, apart from what's needed to pay monthly bills. When they go tets up, you'll be lucky to ever get your money back, and if you do it will be months later, if at all.
Credit Unions should be a bit more secure at this point, but I'm not entirely sure of that.
One thing I do know, should my CU go tets up, my creditors are going to be told to get their money from the gov't., since they now hold it all.
If everyone whose bank/CU crumbles adopts that philosophy, there aren't enough courts, court time or liars (sorry, lawyers) to handle all those cases in litigation.
Last edited by Oswald Bastable; Yesterday at 04:47 AM.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
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