Now they are saying the FDIC "may" fail and need some money...$150 billion worth!

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ag2qfN5A3QeE

So let me get this straight...the organization whose purpose is to insure our money in banks may be running out of money? So if this fails then in its the good old days of a depression? Just when you thought it couldn't get worse. I hope to hell that this is only mere speculation or our tax rates are goin to be out of control!

9/29/2008 12:00:03 PM

true, but $700B > $150B

so no biggie

9/29/2008 12:01:33 PM

that wont happen cause they'll find more money, besides i doubt any more major banks will fail after the bail out

im usually a pessimist in this situation but the bailout does change things significantly

only last week i was seriously considering planning for the great depression 2, now i think it wont be me but my children who'll go through it

9/29/2008 12:05:40 PM

just weird that it is supposed to be something to "comfort" us from banks failing so speculation of it running out of money has my head spinning

9/29/2008 12:06:38 PM

yeah true, but if anything else that is bad happens, then we are truly fluxed

9/29/2008 12:07:44 PM

1) Print more money
2) Up inflation
3) ...
4) Profit

9/29/2008 12:16:57 PM

1) Print more money
2) Up inflation
3) ...
4) Zimbabwe

9/29/2008 12:20:37 PM

time to move to Sweden

9/29/2008 12:20:55 PM

hey Mr. Bush

lemme hold $1T

9/29/2008 12:21:40 PM

I believe you mean President Bush.

9/29/2008 12:24:42 PM

woah, he's our president?!?! That's news to me!

9/29/2008 12:35:53 PM

$USA

9/29/2008 12:38:04 PM

Quote :

"1) Print more money 2) Up inflation 3) ... 4) Profit 1) Print more money 2) Up inflation 3) ... 4) Zimbabwe"

lol

9/29/2008 1:11:51 PM

^^ain't worth a dime

9/29/2008 1:14:00 PM

Quote :

"I believe you mean President Bush."

you know what they say about assuming

9/29/2008 1:29:06 PM

http://www.c-span.org/Watch/C-SPAN_rm.aspx


they're voting on the bill

9/29/2008 1:29:31 PM

time to call up china, see if they'll let us hold another dollar

9/29/2008 1:30:35 PM

HOLY COW, SOMEONE CLICK THE LINK AND TELL ME IF THIS VOTE ON THE BILL IS REALLY LOSING

I CANT BELIEVE MY EYES

9/29/2008 1:46:17 PM

Quote :

"1) Print more money 2) Up inflation 3) ... 4) Profit 1) Print more money 2) Up inflation 3) ... 4) Zimbabwe"

LOL

9/29/2008 1:57:02 PM

voted...and rejected it.

Hooray for the onset of mass pandemonium and Great Depression #2. Shantytowns ftw.

9/29/2008 4:40:01 PM

We just avoided passing a $700 billion dollar bailout.

If the FDIC needs $150 billion, we can probably find some for them.

9/29/2008 4:41:29 PM

Hey guys....how does one go about setting up an account in the Cayman's?

9/29/2008 4:43:23 PM

they're just going to keep asking for money. I dont think there's a foreseeable solution anytime soon.

9/29/2008 4:43:28 PM

I'm not worried, I bank with Wachovia... suckers.

9/29/2008 5:04:32 PM

3^

ask your Hollywood buddies, they would know

9/29/2008 5:05:28 PM

I'm not worried, I bank with Wachovia N.C. State Employees' Credit Union... suckers.

9/29/2008 5:09:31 PM

I'm not worried I bank at my glass jar collection buried in my backyard, suckers.

9/29/2008 5:14:11 PM

^
lol well what are your guys opinion of what just happened this afternoon?

9/29/2008 6:19:34 PM

whatever jessiejepp you weren't alive in the 30s you don't know that it was bad.

I'm walls1441 and i approved this message.

9/29/2008 6:30:35 PM

They should divvy out $700 billion equally between all US citizens over 18. I wouldn't mind having about 200K coming my way.

9/29/2008 6:35:04 PM

Thanks for that article. Despite reading 1-2 major news networks daily that was the most informative article I've seen on this topic. Good work!

9/29/2008 6:56:27 PM

Quote :

"They should divvy out $700 billion equally between all US citizens over 18. I wouldn't mind having about 200K coming my way."

But I do mind that you don't know grade 2 arithmetic.

9/29/2008 11:12:05 PM

^ It'd still be a nice chunk o' change.

9/29/2008 11:13:15 PM

this is not a huge deal. late 80's early 90's sucked for banks as well. probably worse than it is now.

9/29/2008 11:34:33 PM

^ absolutely was worse than it is now..


a thousand and 500ish banks failed then... dozens at a time

[Edited on September 29, 2008 at 11:38 PM. Reason : ..]

9/29/2008 11:36:45 PM

http://en.wikipedia.org/wiki/Hyperinflation

Quote :

"The Z$100 billion agro cheque, issued in Zimbabwe on July 21, 2008, shares the record for depicted zeroes (11) with the 500 billion Yugoslav dinar banknote."

Quote :

"Live rates at 2008.09.30 04:32:17 UTC Notice: The Zimbabwe government redenominated the ZWD on August 1, 2008 at a rate of 10,000,000,000 old ZWD to 1 new ZWD. No new currency code has been issued, but the old ZWD currency remains legal tender until December 31, 2008. More info (PDF) 1.00 USD = 57.4650 ZWD United States Dollars Zimbabwe Dollars 1 USD = 57.4650 ZWD 1 ZWD = 0.0174019 USD"

So apparently before August 1, $1USD = $570,000,000,000 ZWD (yes, 570 billion zimbabwe dollars )

9/30/2008 12:35:26 AM

Quote :

"I'm not worried, I bank with Wachovia"

Quote :

"Wachovia's banking sold to Citigroup"

9/30/2008 7:11:48 AM

Quote :

"But I do mind that you don't know grade 2 arithmetic."

I know where you're going, your over exagerrating and I don't like it. We didn't even start really hard division until 3rd or 4th grade. I was taking an estimate anyways. What kind of estimate do you think it would be.

Oh, they can tax it too. So it'd be under 200K.

9/30/2008 7:39:57 AM

Quote :

"We didn't even start really hard division until 3rd or 4th grade."

Dividing a number followed by a bunch of zeroes by another number followed by a bunch of zeroes is "really hard division"?

Quote :

"I was taking an estimate anyways."

GOD DAMN. You are not still in 3rd or 4th grade, are you??? Your estimate is SO FUCKING OFF you should hide your face. Your estimate is akin to saying

Humans are 6,000 feet tall
The ESB is 1.2 feet tall
etc

YEAH, IT IS A 1000-fold OFF

Quote :

"What kind of estimate do you think it would be. "

OMG. Really man, you HAVE LEARNT NOTHING in school, since the day they started "really hard division". Damn, you STILL can't do it??? Need a supercomputer??? Einstein's phone number???

This is so unbelievable.

If not being able to CANCEL A BUNCH OF ZEROES IN THE HEAD AS AN ADULT isn't proof of the failure of the education system, then I don't know what is.

P.S. Some more help: "1000-fold" does NOT mean adding/subtracting a 1,000, it means multiplying/dividing by a 1,000. And I HOPE you know which of those two it is in this case.


[Edited on September 30, 2008 at 8:22 AM. Reason : ]

9/30/2008 8:20:57 AM

i sometimes have a hard time calculating the # of pounds if given a number in tons.

like 750 tons. how many lbs is that?

not really a hard time, but it takes me a little bit longer because of the '2'

9/30/2008 8:30:51 AM

hahahahahah thats kinda funny numbers...


i'm always like metric or std.?


and sometimes i think... wait... of cooling or??

9/30/2008 8:33:41 AM

ton = 2000 to me, always

i dont like talking about metric tonnage, long tons, short tons, or any other crap that's not relevant to me.

9/30/2008 8:38:19 AM

^ regardless of what kind of ton it is, 2,000 lbs is a very good approximation

9/30/2008 8:40:17 AM

Quote :

"^ regardless of what kind of ton it is, 2,000 lbs your mother is a very good approximation"

9/30/2008 8:46:18 AM

damn lol

9/30/2008 9:25:46 AM

Quote :

"4) Zimbabwe"

win

9/30/2008 9:26:51 AM

You've ranted and still haven't given an estimate, or flat out guess, that you think is reasonable.

All be told, I took that number from /. yesterday, so it must be true.

9/30/2008 10:24:24 AM

$700 billion / 300,000,000 Americans = $2,333 per person

I don't see what's confusing about this?

9/30/2008 11:35:45 AM

^^ dude, are you REALLY that thick? i am going to round the population to 350 million. using 300 million will blow your brain.

700 BILLION / 350 MILLION = 700/350 * BILLION/MILLION = 2 * 1000 = 2000

9/30/2008 12:00:29 PM

set em up

9/30/2008 12:01:12 PM