Occupy Underground

sabrina 1

(62,325 posts)

41. Lol, same here, but I'm thinking of people who want to save and have

Sun Mar 24, 2013, 09:56 PM

Mar 2013

only a few thousand after working for years. As of now, if the banks failed, their small savings would be protected by the FDIC as they don't have enough to worry about going over the limit of protected money.

But what was proposed in Cyprus and now we know, in NZ and Spain and Italy and maybe here, was that some of that money can be taken to bail out the banks. I think around 10%. To a working class person that is like someone stealing their wallet.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

55 replies

= new reply since forum marked as read

Highlight:

Not just Cyprus! Who Else Has Plans To Grab Small Depositor Savings To Bail Out Failing Big Banks? [View all] sabrina 1 Mar 2013 OP

DU Rec Tuesday Afternoon Mar 2013 #1

The interest paid on savings and CDs is insulting AndyA Mar 2013 #2

This has to do with the repeal of nationwide usury laws, Benton D Struckcheon Mar 2013 #3

Thanks for that information. sabrina 1 Mar 2013 #7

Ten year Treasuries are @1.91% Benton D Struckcheon Mar 2013 #10

Well, one reason is profits for the Banks I suppose. I just reread your sabrina 1 Mar 2013 #11

I don't want to totally hijack this so I'll start a new thread on usury itself, Benton D Struckcheon Mar 2013 #15

Thread started Benton D Struckcheon Mar 2013 #21

Thanks, I get it now, you explained it very clearly. sabrina 1 Mar 2013 #43

Probably when they were allowed to invest in the stock market... rwsanders Mar 2013 #26

I think you nailed it. Just like they are trying to get their hands on the SS sabrina 1 Mar 2013 #36

My nephew asked me to co-sign a small student loan. Thor_MN Mar 2013 #12

that is good of you ... however it didn't help his credit rating. nt littlewolf Mar 2013 #20

You think a 10% interest rate is good for him? Thor_MN Mar 2013 #24

true I might have let him get the loan and then littlewolf Mar 2013 #31

He has other loans. Thor_MN Mar 2013 #32

It's a student loan. NEVER take a student loan. Sirveri Mar 2013 #47

You did your nephew a huge favor! abelenkpe Mar 2013 #28

I think that was a great decision. sabrina 1 Mar 2013 #35

Actually, the extremely low interest rates are just an alternative JDPriestly Mar 2013 #23

Yes, and while dividend-paying stocks are yielding a bit more. BadgerKid Mar 2013 #25

K&R AnotherMcIntosh Mar 2013 #4

Moving our money can help but probably not stop them from getting it in the end. rhett o rick Mar 2013 #5

The only way to keep them from getting our money seems to be to sabrina 1 Mar 2013 #13

There is a risk of course of theft. But also, would paper money be best? rhett o rick Mar 2013 #27

I don't know whether paper money is best. I know a few people who sabrina 1 Mar 2013 #44

Historically gold has always been accepted as a unit of value. rhett o rick Mar 2013 #46

Are they going to let the banks fail or bail them out again? starroute Mar 2013 #6

There are a few articles linked in the original article. Good question sabrina 1 Mar 2013 #9

OWS is "the only threat to their criminal activities," bvar22 Mar 2013 #8

I will never forget that. Henry walked into Congress like King, handed sabrina 1 Mar 2013 #14

That scene, with Paulson, in front of the TV cameras, bvar22 Mar 2013 #22

"Martial law" KansDem Mar 2013 #52

Remember, Congress voted against the bailout initially after they received so much pressure sabrina 1 Mar 2013 #53

Yes! KansDem Mar 2013 #55

While I share your disdain for big banks customerserviceguy Mar 2013 #16

They're also doing their best to criminalize any opposition to corporations starroute Mar 2013 #30

Attempts to criminalize the videotaping of violent police tactics... KansDem Mar 2013 #54

True, but we know that Wall St owns politicians. So it seems to me they sabrina 1 Mar 2013 #45

I admit to knowing very little about finance but Sadiedog Mar 2013 #17

It is outright theft. What else can it be called? I don't know much about finance sabrina 1 Mar 2013 #38

HUGE K & R !!! - Thank You !!! WillyT Mar 2013 #18

Plunderball: catchy name! Demeter Mar 2013 #19

Why don't governments all over the globe abelenkpe Mar 2013 #29

No, you're not the only one asking all those questions. sabrina 1 Mar 2013 #48

Excellent post...but scary as hell. AikidoSoul Mar 2013 #33

I think, if it had done nothing else, OWS demonstrated how far sabrina 1 Mar 2013 #39

I found out that money is seldom safe when it comes to banks. Social Security money is not supposed jwirr Mar 2013 #34

Are we at a point then, where the only way to keep your money safe is sabrina 1 Mar 2013 #37

I put mine in GoDirect which is still in a bank but it is a FED bank that holds our social security jwirr Mar 2013 #49

Well for me its like what money? Sadiedog Mar 2013 #40

Lol, same here, but I'm thinking of people who want to save and have sabrina 1 Mar 2013 #41

I know it is just disgusting . Sadiedog Mar 2013 #42

OWS needs to get more power. loudsue Mar 2013 #50

Banks would put a stop to it pretty quick once they noticed a pattern of withdrawal woodsprite Mar 2013 #51