View Full Version : ? What happens to all those depositors
10-13-2008, 05:30 AM
in banks like Indymac with over 100k, they lost, now any more bank failures are 250k or even the entire balance soon? Did they get fleeced or what? I would be absolutely livid.
10-13-2008, 05:50 AM
I have five different friends that had deposits at banks that have failed recently and they all just vanished without a trace. I don't mean the deposits, I mean the people themselves. Nothing left but their smoking lederhosen.
10-13-2008, 06:05 AM
If a person's FDIC insured bank goes under, the doors usually re-open again in just a few days and the bank functions under a new name (with new faces behind the counters) using the same old account numbers. If many customers then want to take all their money out of the bank at that time, things start to get tricky...
When can customers expect their FDIC payout, does it take 4 days or 40 weeks to get all the money that was in their account (up to the new 250k limit)? Or, does the FDIC put them on an allowance, by only making small percentage periodic payouts, spread over decades? ...to each according to his need.
10-13-2008, 08:37 AM
I'm not entirely sure what you're asking, but I believe people who had money with banks when the $100k insurance was in effect were scheduled to receive half of the amount over $100k that they lost. ie: If you had $500k deposited, you would receive the first $100k, then half of the remaining balance, or $200k. I think this applied to the first one or two bank failures - not sure about the rest.
10-13-2008, 08:43 AM
Who has more then 100K in a savings account?
I have never met anyone that would keep this much money in a savings account.
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