Banks Complaint - Filling For Bankruptcy Is Easy But Who Pays For It

Review by Honesty Hurts on 2008-12-05
HOUSTON, TEXAS -- It seems to me every time I turn on the news some bank is filing for bankruptcy. What is happening where is all the money going to? What about their clients? I feel like going and remove my meager savings and keeping it under the mattress and least then I will know where it is? They keep getting bailed out by the government but you have to wonder if where just digging a deper whole we won't be able to get out of.

And when we are in so deep who will be willing to rescue us.
Comments:3 Replies - Latest reply on 2008-12-05
Posted by jktshff1 on 2008-12-05:
Obama and the Union of Socialist Demokrats (oops, meant the demokratik congress) are going to take care of all your needs.
Posted by S. on 2008-12-05:
jktshff1, you behave yourself now, ya' hear? :)

But, you bring up a good point. I don't have all my 'eggs in one basket,' thus feel safe(?) I won't lose what little I have because the FDIC guarantees it. But what is the FDIC? It's our government, right? And who finances our government? Taxpayers. So--all of us paying taxes guarantee no one will lose their money--so taxes will have to be raised in order for us not to lose our money--and on and on and on. I'm dizzy!
Posted by Anonymous on 2008-12-05:
Basically, the money just goes to another bank. No one has lost anything on an insured bank account due to a failure. Can this keep up forever? Time will tell.

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