robb

Maybe it is time to raise the coverage, it was 100k for awhile not sure what is was before that or for how long.

zeroptzero

In Canada it is $100,000 per institution one has money invested with. You basically have to deal with multiple institutions and investment companies to cover everything you may have over $100,000 so no one place is holding more than $100k. The insurance isn't based on per person though so that is good, you could get millions insured if you have it spread over 10+ institutions.

fltsfshr

It's either that or buy metals and stash it. At least that way I know it's secure. My stepfather instilled in me don't buy anything you can't make 25% on. I try to follow his strategy.

dlq04

Did he die a billionaire? I have a meeting a few minutes with a financial advisor, what do think he would say if I told him that?

buckeyesue

Then, do you not buy much?

Jub

If they want to raise the coverage, it should be voted on and not done by fiat. I have serious issues with doing it under crisis also. Bad decisions are made in crisis and at some point, banks need to be able to fail so that they have an incentive not to fail.

The American tax payer or everyone who owns dollars will pay the bill, which are roughly the same audience. The gov. does not have money. It takes from the people through taxes or inflation. They can say it's not coming out of taxpayer money but it's all the same thing in terms of taking away American's purchasing power.

Completely agree that continuously papering over bank failures does not solve the problem. I don't want the depositors to all lose money necessarily but there has to be some accountability for the bank. If not, banks are then incentivized to have speculative investments because they can count on being bailed out. That, theoretically, will increase the cycles of failure.

I was confused and angry at your first statement, then I looked at your location... lol. I'm sure that waking up at the early hour of 9 am for a presser and bumbling about how everything is ok consoled everyone.

robb

He would say if you can guarantee me a 25 percent return sign me up.

fltsfshr

FWIW He did very well.He was a publisher. There are college libraries, hospital wings, parks etc named after him. When my Mother married him I was already out of the house and in college. He once guaranteed a bank loan for me to start a business. Bank released his CD's 2 years later as I paid it off. I have stuck to that philosophy and it has worked well. He always found the best investment was himself. That's water long over the dam.

A.O.

The most of my metals are lead and copper.. and some stainless!

fltsfshr

I see some brass in your avatar.