10 March, 06:09
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12 March, 12:03
In response Mary Gessler to her Publication
How can we free our ppl that have had to max out their credit cards for food and gas and have been terrorized with 25 to 30% iterest rates,
What if every one with a credit card all in the same month just stopped paying them?
They hold no security so what other than ruining their credit rating could be done to them?
Everyone stop paying?
The Big 3?
Bank of America
JP Morgan/Chase
Citi
Finish them off?
What if every one with a credit card all in the same month just stopped paying them?
They hold no security so what other than ruining their credit rating could be done to them?
Everyone stop paying?
The Big 3?
Bank of America
JP Morgan/Chase
Citi
Finish them off?
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Nadine Trevour
@NadineTrevour
12 March, 02:24
In response Angels Here -Z to her Publication
I am in the same mindset. If there is a reset, Banks close, what happens to us? The cardholders. Heard someone from Wells Fargo unable to make car payment, accts frzn. Not their fault. Suspect something may surface this week that will offer some options for the likes of us :)
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My experience with bank closures is as follows.
Yrs ago was Director of the Treasury in mid sized town in charge of investing & maintaining the security of the counties funds, about 36million per yr cash flow.
By law I was required to keep the money safely invested & secured against loss,
In order to do that our only avenue to invest the money was via CDs, no stock market or other investments were allowed. Each bank would only allow 250k to be secured by the FDIC so I had to force our banks to hold non tradable A rated Bonds in a third party escrow in our name.
So the bank we did business with had to physically pledge the ACTUALL Bond certiicates in a safe deposit box at a bank they were not associated with that they could not sell without my written permission as security against the loss of our funds were our bank to fail.
Having done ALL OF THAT, when the Savings & Loan crisis hit yrs ago I still had to fight tooth & nail to claw back our funds once the FDIC took over the ba
Yrs ago was Director of the Treasury in mid sized town in charge of investing & maintaining the security of the counties funds, about 36million per yr cash flow.
By law I was required to keep the money safely invested & secured against loss,
In order to do that our only avenue to invest the money was via CDs, no stock market or other investments were allowed. Each bank would only allow 250k to be secured by the FDIC so I had to force our banks to hold non tradable A rated Bonds in a third party escrow in our name.
So the bank we did business with had to physically pledge the ACTUALL Bond certiicates in a safe deposit box at a bank they were not associated with that they could not sell without my written permission as security against the loss of our funds were our bank to fail.
Having done ALL OF THAT, when the Savings & Loan crisis hit yrs ago I still had to fight tooth & nail to claw back our funds once the FDIC took over the ba
05:12 PM - Mar 12, 2023
In response Nadine Trevour to her Publication
Only people mentioned by SirHuckleberry in this post can reply
