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I hope one of you have investments in any financial
Posted: Jan 20, 2011
institutions. A new rule approved by the FDIC went into effect that creditors and shareholders will now have to absorb some of the losses when the federal government steps in to dismantle large failing financial firms. Congress gave the FDIC the authority to wind down troubled firms and sell their assets; i.e., shareholders and unsecured creditors should understand that the taxpayers are not at risk any longer to bail them out.
That's okay but if you have a balanced fund, most likely some financial institutions are included in that fund. Will this affect the fund if one of those failing institutitions are in that fund? Probably.
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Oops! That should be 'none' not 'one' (nm) - Backwards Typist
[ In Reply To ..].
Important to understand this is not FDIC deposits - but stockholders and service providers
[ In Reply To ..]Don't you trust that the regulations put into place will stop the next financial raid by the crooks on Wall Street? Here is a concerning statement:
"The group recommended that regulators collect new types of financial data to help spot banks that are sidestepping the rule. They want bank CEOs to swear that the companies are complying."
I sure wish the Wikileaks would come out about Bank of America and about the "big guys" who have their holdings in the Caymans to avoid taxes.
I really don't see why shareholders should have to - Backwards Typist
[ In Reply To ..]cover the costs. Sure, they make profit if the banks do well but they also lose money just like us if they fail. Shareholders are mostly like you and me. Our pension/401K/IRAs usually have financial institutions blended into each and every plan. So, we would lose money, too. Will the federal government make our plans, you and I pay for the failure?
I'm asking a serious question here.
Investing in a bank or insurance company is just like - investing in Intel, Apple, or Ford
[ In Reply To ..]If you think Apple is going down the tubes because Steve Jobs is ill, you should pull your money out. When you invest, you have the responsibility of making sure you are investing wisely. Hopefully, there will be an end to the shady transactions and some real onitoring done so we actually have a "real" picture of what is going on. Unfortunately, the government had to step in so the entire system would not collapse because things had gotten so out of hand. They also stepped in with the automakers, again to avoid huge unemployment and economic deprepression. It should have not had to be done, but it happened, and it was necessary. You can usually check what the holdings and percentage of holdings are in your funds. Move the money to a different fund if you don't like the financial institutions. I don't like it, but I have to play the game with the present rules.
Investing in the stock market is no different than shooting craps or playing roulette. - sm
[ In Reply To ..]No matter what you want to call it...it is nothing more than gambling!
Yes. However you can take advantage - you can't really afford not to
[ In Reply To ..]If you have money put away in a 401k or have an IRA, you may as well try to learn about it to try maximize the gains and minimize the loss. Read up on it. Check your statements. There are times to take advantage of a rising market, and times to pull back and be more conservative and keep the funds in an interest-bearing account The trick is knowing when do it. When you heard Lehman Brothers was going down, it would have been a good time to get out of the market. when everyone said they were all sold out, that would have been a good time to buy. When BP sprung the big leak, if you had a fund that was a large holder of BP stock it would have been a good time to move to a different fund. Just saying.
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