Comments on: Wachovia Next To Fall?

By: Luke @ Money & Fitness

Luke @ Money & Fitness — Sun, 28 Sep 2008 22:48:23 +0000

I saw that Wachovia is raising their interest rates on money market accounts. I wonder why after reading this…….

By: Taylor Marek

Taylor Marek — Sun, 28 Sep 2008 05:14:09 +0000

Interesting watching all these banks failing. I wonder what the next bank might be…

Something to think about, if these banks are being bought up, aren’t the bad loans going as well? What might happen to the bank that then takes on these loans? Are they going to bloat and pop?

By: jim

jim — Sat, 27 Sep 2008 18:09:05 +0000

saladdin: I see a lot of familiar names on that that list…

By: Laura

Laura — Sat, 27 Sep 2008 17:03:50 +0000

Well, we bank at Wachovia, so I’m curious to see how this pans out but I’m not to worried. We’re under the FDIC limits and our joint money is at ING Direct. If need be, we’ll switch our individual accounts, but no rush now.

By: Frank Miller

Frank Miller — Sat, 27 Sep 2008 15:19:44 +0000

This is unfortunate, but it should serve as a wake up call to all American investors. If you want to protect your money, you need to diversify and invest at least some of it overseas. These are hard times for American investing firms. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.

Best,
Frank Miller

By: Double

Double — Sat, 27 Sep 2008 15:12:50 +0000

Either there is a Fed bailout or more banks fail, either way Main Street is going to have to pay higher taxes and learn to live within their means.

By: saladdin

saladdin — Sat, 27 Sep 2008 14:21:04 +0000

You want a list of banks? Check out this research groups proposal that was submitted to The Federal Reserve Board. It’s a year old, when the “experts” were yelling Danger and we still ignored them.

saladdin

http://www.weissgroupinc.com/whitepaper1/Housing_white_paper.pdf