Is your money safe in a bank or is there something better?
Writing by Blunt truth on Monday, 20 of April , 2009 at 12:30 pm
Today, 2 more major national banks fail. Bring the number of banks to crash and burn up to 25 this year alone. That is more than the past 5 years put together. I don’t know about you but this worries me. 25 banks, would you have ever thought that so many would fail? None of this would have happened is the democrats didn’t revoke the certain act. The all mighty and powerful Glass-steagall act. Glass-steagall act Prevented regular bank from being in investment industry. Funny isn’t it we all blame bush for this mess when it was Clinton. If banks did not leverage themselves so much then we may not have been in a recession or at least a lesser version of one.
Now onto the most important part! Is your money safe?? Depends if you have fewer than 250,001 dollars then Federal Deposit Insurance Corp (FDIC) protects that amount in case of a bank failure. Not bad. Should you keep your money in a bank though? I don’t I opened a sharebuilder account and bought Citi Group at 2 dollar a share. That stock is currently priced at 3.65, giving me a return of 82.5%. That return beats ANY return a bank can give you!
Yes, ladies and gentlemen I am going back to my roots in blogging FINANCE! Keep your eyes open for great deals on stocks! Right now the market is still underpriced!
Category: Because we care, Reality Bites
- Add this post to
- Del.icio.us -
- Meneame -
- Digg
No comments yet.
