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 ...
Georgia is on the crap train for banks.
ebank as in eTrade’s bank?
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?
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.
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.
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.
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.
ebank as in eTrade?s bank?
Yes. Get out of eTrade.
In other financial news;
http://truthingold.blogspot.com/2009/08/time-to-move-your-account-out-of-e.html
NO, it is not the same as E*Trade Bank
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.
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
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...
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
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....
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!!!!!
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