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FDIC Closes ebank
FDIC ^ | 8/21/09

Posted on 08/21/2009 2:32:54 PM PDT by Kartographer

On Friday, August 21, 2009, ebank, Atlanta, GA was closed by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

(Excerpt) Read more at fdic.gov ...


TOPICS: Business/Economy; US: Georgia
KEYWORDS: bankfailure; banking; fdic; financialcrisis; govwatch
"Green shoots, nothing but green shoots do I see"
1 posted on 08/21/2009 2:32:54 PM PDT by Kartographer
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To: Kartographer

Georgia is on the crap train for banks.


2 posted on 08/21/2009 2:35:05 PM PDT by autumnraine (You can't fix stupid, but you can vote it out!)
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To: Kartographer

ebank as in eTrade’s bank?


3 posted on 08/21/2009 2:35:14 PM PDT by NonValueAdded (Caution: Angry crowds in the mirror are LARGER than they appear.)
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To: Kartographer

So, a strictly online banking entity finally goes belly up ... no bank runs there, I guess.

I’ve had some dealings, positive I might add, with EverBank, another stricly online bank. Their CD offerings in various currencies can provide a nice hedge for dollar fluctuations, if you’re paying attention enough to stay on top of the general trend over time.

Wonder how stable they are, at this point?


4 posted on 08/21/2009 2:36:40 PM PDT by RegulatorCountry
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To: RegulatorCountry
This is what their web page shows: http://www.ebank.com/
5 posted on 08/21/2009 2:38:04 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

I’m wondering about Emigrant-Direct...I can’t find it on the listings for ratings. Shoot....I’m just gonna pull out all my money and hide it in the mattress.


6 posted on 08/21/2009 2:43:15 PM PDT by queenkathy (Pray 4 Josh... www.carepages.com ( joshuaourwarrior) brain injury from allergy shot)
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To: Kartographer

Short and to the point. At least depositors are not experiencing any apparent problem, accessing their accounts. Just through Stearns in St. Cloud, MN, instead of eBank, Atlanta, GA.


7 posted on 08/21/2009 2:45:06 PM PDT by RegulatorCountry
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To: queenkathy

Bankrate is a great site:

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx


8 posted on 08/21/2009 2:48:59 PM PDT by iowamark (certified by Michael Steele as "ugly and incendiary")
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To: queenkathy

Protect it against physical destruction, unintentional discarding or theft. Fireproof box in a very discrete place, at a minimum. And, don’t go telling people who know who you are and where you live, that you’re keeping large amounts of cash on hand in your home.

Other than this, many have already done what you’re joking about doing. I have. Just not my entire balance; enough to tide me over, if things ever really do go WTSHTF for six months or so.

It’s prudent, not tinfoil.


9 posted on 08/21/2009 2:49:29 PM PDT by RegulatorCountry
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To: queenkathy

Before you go to that extreme, put your money in a short-term US Treasury money market account. Much safer than the mattress, and it actually helps (just a little) by reducing the need for the Feds to issue bonds. If short-term treasuries go bad then we are really in the toilet, and your bits of green paper in the mattress won’t be worth anything.


10 posted on 08/21/2009 3:01:35 PM PDT by expatpat
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To: NonValueAdded

ebank as in eTrade?s bank?

Yes. Get out of eTrade.

http://coyoteprime-runningcauseicantfly.blogspot.com/2009/08/chris-martenson-fdic-is-broke-now-what.html


11 posted on 08/21/2009 3:08:11 PM PDT by katiekins1 (House Committee Chairmen Rebuke Obama 492-2 Vote)
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To: Kartographer

In other financial news;

http://truthingold.blogspot.com/2009/08/time-to-move-your-account-out-of-e.html


12 posted on 08/21/2009 3:15:49 PM PDT by katiekins1 (House Committee Chairmen Rebuke Obama 492-2 Vote)
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To: NonValueAdded

NO, it is not the same as E*Trade Bank


13 posted on 08/21/2009 3:26:21 PM PDT by brydic1
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To: RegulatorCountry
EverBank, who until I saw this ad, had never heard of, is advertising CDs in other currencies:

EverBank

14 posted on 08/21/2009 3:27:47 PM PDT by Vince Ferrer
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To: Vince Ferrer

I know them, referenced them upthread. Had a positive experience with the currency CD.

The kicker to it, is that the most stable currencies in the program offer no rate of return. It’s just a “safer” place to park your money, when the dollar is tanking. Nothing else. The ones with a higher rate are less stable. They’re all FDIC insured up to the limit as well. So, it can be like a venture into FOREX, but with training wheels, lol.


15 posted on 08/21/2009 3:35:43 PM PDT by RegulatorCountry
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To: Kartographer

so... anyone know what’s left in the FDIC deposit fund?

last i heard, it was under $5 billion. how much was in eBank? and when the FDIC goes broke... and shuts down another bank... how do the people get their money that is insured? bambi just going to print more?

i wonder how many banks are left


16 posted on 08/21/2009 4:02:10 PM PDT by sten
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To: Kartographer; FromLori

Looks like the “rumor” WAS true.// That is, re:Guaranty Bank of Austin. Just taken over by FDIC. BBVA Compass of Birmingham to share in the spoils...


17 posted on 08/21/2009 4:45:48 PM PDT by donozark (Restraining orders are just another way of saying I love you....)
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To: donozark; Kartographer

Oh oh the FDIC is already broke

http://www.chrismartenson.com/blog/fdic-broke-now-what/25274

And did you see this?

http://www.businessinsider.com/friday-newsdump-deficit-projections-upped-by-19-trillion-2009-8


18 posted on 08/21/2009 4:51:01 PM PDT by FromLori (FromLori)
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To: FromLori

No problem. America is the land of milk and honey. //
Just print money. It grows on trees. But the trees are starting to rot and fall over....


19 posted on 08/21/2009 4:55:38 PM PDT by donozark (Beware the Impostor from Mombasa!)
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To: sten

I saw a good story by a guy over on lewrockwell.com by a gut named Bill Sardi about how broke the FDIC is the charts and grafts could be used at an adult Holloween Party!!!!!


20 posted on 08/21/2009 5:13:45 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: queenkathy

Emigrant Direct is the online extension of Emigrant Savings Bank in New York.

http://www.emigrant.com/


21 posted on 08/22/2009 12:18:23 PM PDT by rabscuttle385 (May God save the American Republic.)
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To: Kartographer
ok... the FDIC shutdown a texas bank this weekend. that's another $3 billion from the fund. did that just top out the fund??

link: Large Texas bank shut down by federal regulators

i guess... a few billion here, a few billion there, and you'll start talking real money. AFTER THAT.. a few trillion coming and going, and you start talking FAKE money.

welcome to zimbabwe

22 posted on 08/22/2009 3:12:08 PM PDT by sten
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