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Is ANY Bank safe? What Bank Should One Join?

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posted on Mar, 7 2009 @ 01:38 PM
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In America...which bank would you recommend that one should join?

Are there banks in America that are not up to their eyeteeth in this derivatives nonsense?

What bank would you recommend joining? Are foreign banks a viable option?

[edit on 7-3-2009 by SirPaulMuaddib]




posted on Mar, 7 2009 @ 01:42 PM
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Originally posted by SirPaulMuaddib
In American...which bank would you recommend that one should join?

Are there banks in American that are not up to their eyeteeth in this derivatives nonsense?

What bank would you recommend joining? Are foreign banks a viable option?


keep your deposits in chinese,indian or russian banks .they are much safer and financially secure



posted on Mar, 7 2009 @ 01:42 PM
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At the moment none of them espeically not The West Bank very unsafe,you could always try the blood bank if you wanted to help people.

Seriously in my opinion stash your cash in your mattress for now.



posted on Mar, 7 2009 @ 01:44 PM
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Join a Credit Union. The monies in such a business are controlled by the clients that continue to deposit there. Simply stated it is owned by the people.

~Holly



posted on Mar, 7 2009 @ 01:48 PM
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I would invest in the (Insert Your Name Here) Bank.

The location: (Under Your Mattress, Or In You're Safe)

Banks are the epidomy of our problem in this economy, they are completely obsolete in today's world.

People say they are a necessity, I see it differently. As far as I am concerned they area service, to be used as I see fit.

Nothing more.


~Keeper



posted on Mar, 7 2009 @ 01:52 PM
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JPMorgan Chase is ok.
Hudson City Savings Bank is great. They wrote down one bad mortgage so far. Their stock has been battered lately, probably because of the sector. Great bank, they keep their mortgages so they weren't lending to anyone willing to ask for a loan.

I'm not sure if this is the exact name but People's Bank in CT is supposed to be in good shape too. Not much knowledge beyond what I've been told here and, even then, you should never take the word of others when you can find out for yourself.

If you're looking to open checking or savings account, you need to worry about the FDIC coverage first and foremost. Then you can sift thru the options and weed out the banks that are more likely to be in trouble.



posted on Mar, 7 2009 @ 01:53 PM
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reply to post by SirPaulMuaddib
 


I would stick to local banks - AFTER making sure they are really sound - talk with the bank manager, ask to see the audits, if you can't understand them, get someone who can to go over it with you

The 19 that are going to be "stress tested" should be kept very far away from your $$$

Of course, at this point, there is no benefit to using a bank, you are not going to get any substantial interest on your account and you WILL end up paying fees for your account.

I personally bank with the First National Bank of Sealy, the vault is in my closet, bolted into the concrete foundation of my home



posted on Mar, 7 2009 @ 02:02 PM
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Originally posted by Crakeur
JPMorgan Chase is ok.




No, not Chase. Their ratings were just cut to negative by moody's.

I hate this bank the most. They are shady, and always have been.



posted on Mar, 7 2009 @ 02:10 PM
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reply to post by its bologna
 


Chase is ok for holding your money. As an investment, well, is anything safe these days?

Chase profits were decimated as a result of their taking over crappy failed banks. They're actually hiring many of the other bank's laid off employees and hiring at this point in time should be looked as a positive thing.



posted on Mar, 7 2009 @ 02:45 PM
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I'd suggest a credit union if you can get into one. Another option I remember would be the Lakota nation bank. It's gimmick is that they do not engage in fractional reserve lending



posted on Mar, 7 2009 @ 02:45 PM
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IMHO the only truly safe bank in the present climate is your piggy bank.

And you might as well spend/invest those savings before hyperinflation hits.

Tin hat? Maybe. Maybe

But whoever waits until the banks close their doors will wish they'd been wearing a...



posted on Mar, 7 2009 @ 04:47 PM
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Considering what the line of thought behind the OP is, I thought
this should be interesting...and thought I'd post as a reminder to watch.


60 Minutes Gets A Rare Look At How The FDIC Takes Over Banks And Reassures Depositors

CBS) As staffers of the Federal Deposit Insurance Corporation enter the Heritage Community Bank on a Friday night - surprising employees with the news they are taking over the failing institution - 60 Minutes cameras and correspondent Scott Pelley are there to report on a process that's happening more and more in a foundering economy.

Pelley's report, including an interview with FDIC chair Sheila Bair, will be broadcast this Sunday, March 8, at 7 p.m. ET/PT.



posted on Mar, 7 2009 @ 04:51 PM
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If the FDIC goes down-- I would reckon the dollar as a currency will probably be next to follow. Hence stashing money in your mattress is downright silly.

But that might just be me.

Honestly, I am just hoping the dead cat bounce is coming-- cause my stocks are looking very sobering.

The best investment you could make right now, very well may be guns. If the assault weapon bans go through your weapons value could increase by 500%. Sweet.



posted on Mar, 7 2009 @ 05:38 PM
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For the time being, it doesn't matter what bank you keep your money in, provided your balance is not more than what is FDIC covered. The day the FDIC fails will be the day the US dollar dies. If you do use banks, split your deposits between at least two, that way all your eggs aren't tied up if one basket should crash.

And, as other have suggested, yeah, screw banks, credit unions are the way to go. I've been with the same credit union since 1980, and I've never had any other kind of bank account.

Credit unions are simply financial co-ops. I like co-ops. Everything should be a co-op, including where we work (meaning, all businesses should be employee owned, with the original owner of course retaining 51% of the business ownership for his or her part and risks of establishing it). Imagine if we all earned, in addition to our salaries or hourly pay, a piece of the pie we are helping to create? This would solve peoples retirement issues too.

Support co-ops, such as credit unions. Screw the banks, we don't need them, and they are nothing but scams that loan out fake fiat wealth in hopes of being paid back by your blood, sweet, and tears.



posted on Mar, 7 2009 @ 05:49 PM
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Credit Unions sounds like good advice....I will look around for one.



posted on Mar, 7 2009 @ 08:18 PM
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For anyone interesting in maybe looking into credit unions. I got some information for you.

This is the National Credit Union Administration site.

NCUA

Inside the very large site there is this.

Financial Performance Report

You can actually look-up a recent balance sheet from a prospective credit union. I found one 3 miles from where I work at that had 20 Million in assetts and a rock solid balance sheet.

There are options other than banks for checking and savings that meet most peoples needs. I'm so pissed at banks right now, anything I can do to hurt/ hasten the inevitable BK I'm all for. Hopefully this info will help.



posted on Mar, 7 2009 @ 08:22 PM
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Canada has branches in the US , these banks are the safest in the world. no failures there



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