barack wants to raise FDIC limit to $250k

[pontifex]

Originally posted by: Eeezee

Originally posted by: waggy

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

not around here. hell $100k would buy a very nice starter home.

Not all of us can purchase a home for 5 cows several horses (ie just because homes are cheap in the middle of bum fuck nowhere doesn't mean they're cheap everywhere)

the opposite holds true as well. they're pointing out his generalization

 

[waggy]

Originally posted by: Eeezee

Originally posted by: waggy

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

not around here. hell $100k would buy a very nice starter home.

Not all of us can purchase a home for 5 cows several horses (ie just because homes are cheap in the middle of bum fuck nowhere doesn't mean they're cheap everywhere)

and not all starter homes are $500k +

 

[Born2bwire]

Originally posted by: freegeeks
Federal insurance in Belgium on bank accounts is only 20.000 euro

Miserable fat Belgian bastards!

 

[BlahBlahYouToo]

Originally posted by: Special K

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

What about someone in retirement who has amassed a multi-million dollar nest egg through regular investing? It's likely that a good chunk of their portfolio will be in cash. Keeping that cash in an FDIC-insured money market account seems like a good idea to me.

if they have multi-millions, a $250k isn't going to help them either.

Originally posted by: pontifex

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

do the "vast majority" incur any negatives from this? if not, then what's the problem with increasing insurance for people who do have that much?

cost. they don't just magically up the limit without any overhead.
if there's no negative, why stop at $250k? why not just make it $10MM?

 

[rudeguy]

Originally posted by: waggy

Originally posted by: Eeezee

Originally posted by: waggy

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

not around here. hell $100k would buy a very nice starter home.

Not all of us can purchase a home for 5 cows several horses (ie just because homes are cheap in the middle of bum fuck nowhere doesn't mean they're cheap everywhere)

and not all starter homes are $500k +

He's just trolling....don't encourage him.

Wasn't there just a report about how the FDIC didn't have enough cash to cover all the accounts with $100k let alone $250k?

 

[tfinch2]

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

 

[SagaLore]

Seems like a good idea to me.

 

[IEC]

Just more populist pandering.

Nothing to see here, move along.

 

[imported_Lothar]

Originally posted by: Anubis

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

WTF kinda starter home is that

One in California.

 

[krunchykrome]

$500K starter home, hah!

starter homes here are a beeliahn dollahs

 

[alkemyst]

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

Definitely a comment from someone that is clueless on 'starter' homes and going of hearsay.

$100,000 is chump change today though. Not saying it's common for people to have that cash on hand, but at the same time it's not uncommon.

There are ways to set up an account so that one is already protected for more than $100k though. Again most here just spout off about 'needing' it, but in reality don't and have no fucking clue.

 

[BlahBlahYouToo]

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

 

[QueBert]

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

I stay in $10,000 a night hotel rooms, the down payment on my starter house was MILLIONS!

*evil ATOT grin & accompanying laugh*

 

[krunchykrome]

Originally posted by: BlahBlahYouToo

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

I thought your argument was that most small businesses dont have $100k in bank accounts...?

 

[krunchykrome]

Originally posted by: QueBert

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

I stay in $10,000 a night hotel rooms, the down payment on my starter house was MILLIONS!

*evil ATOT grin & accompanying laugh*

i sprinkle diamonds on everything I eat

 

[Elias824]

It just makes things simpler, its 100k per bank account so you might have 3 diffrent accounts if you are worried about having FDIC cover all of your money, It really doesn't change anything. Lots of people have more then 100k in different accounts, they just dont spend their time poking through lame forums like us. 100k is an outdated amount anyways.

 

[BlahBlahYouToo]

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

I thought your argument was that most small businesses dont have $100k in bank accounts...?

I'm willing to bet on both.
and for those that do, it's not that hard to open up an account at another bank.

of course, there's really no way for any of to prove this so this is moot.

 

[alkemyst]

it's absurd to think the majority of the US has even access to $100k with credit even.

However; there is a LOT of people that spend $100k a month.

The insurance has alway been to protect the upper percent of the population, the ones whose existance can make or break the bank not the typical Joe Schmoe that has only part of any paycheck sitting in his free checking account at any moment.

 

[alkemyst]

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

I thought your argument was that most small businesses dont have $100k in bank accounts...?

I didn't know MOST small businesses had $100k in their accounts either. Considering most will fail before their 2nd year of operation.

There are pretty strict guidelines on what is legally considered a small business.

 

[nakedfrog]

Originally posted by: BlahBlahYouToo

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

Well, I only make bets where the pay-off is some sort of sexual favor, so the ball's in your court (so to speak)

 

[BlahBlahYouToo]

Originally posted by: alkemyst

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: nakedfrog

Originally posted by: krunchykrome

Originally posted by: BlahBlahYouToo

Originally posted by: TallBill
I don't see the issue with it.

there's no issue. just seems useless to most as i'm sure a large majority of the population does not have more than $100k.
and those who do have $100k in liquid assets probably do not have it in a commercial bank account.

small businesses do have that kind of cash sitting in bank accounts

there's nothing left to argue

No, no, let's continue to argue it based on the fact that BlahBlahYouToo is sure that most people don't have more than $100k in a bank account--that's all the evidence I need!

i'm willing to bet that a majority of americans do not have $100k in the bank.
willing to take me on?

I thought your argument was that most small businesses dont have $100k in bank accounts...?

I didn't know MOST small businesses had $100k in their accounts either. Considering most will fail before their 2nd year of operation.

There are pretty strict guidelines on what is legally considered a small business.

that's probably because most small business don't have $100k.

there isn't exactly a clear definition on what is considered small biz.
less than 50 employees, mom and pops stores, a website i'm running from my home could all be considered small biz.

 

[ghostman]

I think it's a great idea. The $100K limit was set in 1980. Given inflation, the 2008 number actually should be close to $250K. So, why not?

I actually know quite a few individuals (not businesses) who have hit or will hit the $100K limit. They are all below 30 years of age. They do keep it in commercial banks, in the form of online savings, CDs, etc. Is there a better, equally safe place to be put the money?

 

[tfinch2]

Originally posted by: alkemyst

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

Definitely a comment from someone that is clueless on 'starter' homes and going of hearsay.

Like I said before, 500k+ starter home? lulz

Originally posted by: alkemyst
$100,000 is chump change today though. Not saying it's common for people to have that cash on hand, but at the same time it's not uncommon.

So what is it? Common or uncommon? It can't be both.

 

[rsd]

Originally posted by: tfinch2

Originally posted by: alkemyst

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

Definitely a comment from someone that is clueless on 'starter' homes and going of hearsay.

Like I said before, 500k+ starter home? lulz

[/quote]

Move from Tejas to I don't know..let's say the Northeast and 500k starter homes is very accurate in many, many areas.

 

[Noirish]

Originally posted by: ghostman
I think it's a great idea. The $100K limit was set in 1980. Given inflation, the 2008 number actually should be close to $250K. So, why not?

I actually know quite a few individuals (not businesses) who have hit or will hit the $100K limit. They are all below 30 years of age. They do keep it in commercial banks, in the form of online savings, CDs, etc. Is there a better, equally safe place to be put the money?

What he said.

I think when Indy failed, depositers lost either $20m or $200m because they went over the $100k limit.