Remains to be seen, GG, tomorrow might be very instructive as to the future of the nation. This SVB issue, following so close on the heels of the recent crypto-currency failure, and now Wells Fargo playing loose and free with depositors' money, well, this could become a contagion among the banks. A thing to watch closely will be derivatives... and you should find out how much your own bank is invested in derivatives. That is the next big thing to (possibly) fail.
My bank is a smaller bank in the area. They are 388 on derivatives rankings. We are pulling the bulk of the money out this Friday and opening an account at a local credit union.
The funny thing was a few weeks back we discussed getting liquid assets available for the TN adventure. He agreed and we called the broker. He asked if my husband was going in to conspiracy theories. We said no we need liquid assets for TN. The next day is when the market fell 700 points.
Word of advice, if you can move money to a credit union TOMORROW, you might better off. I'm not a financial advisor, but my gut instinct tells me it's time to do that.
They better not screw with my move to TN.
Remains to be seen, GG, tomorrow might be very instructive as to the future of the nation. This SVB issue, following so close on the heels of the recent crypto-currency failure, and now Wells Fargo playing loose and free with depositors' money, well, this could become a contagion among the banks. A thing to watch closely will be derivatives... and you should find out how much your own bank is invested in derivatives. That is the next big thing to (possibly) fail.
My bank is a smaller bank in the area. They are 388 on derivatives rankings. We are pulling the bulk of the money out this Friday and opening an account at a local credit union.
The funny thing was a few weeks back we discussed getting liquid assets available for the TN adventure. He agreed and we called the broker. He asked if my husband was going in to conspiracy theories. We said no we need liquid assets for TN. The next day is when the market fell 700 points.
I will not let the evil monsters get me down.
Word of advice, if you can move money to a credit union TOMORROW, you might better off. I'm not a financial advisor, but my gut instinct tells me it's time to do that.
Ok, I told my better half and you talked us into it. We both told work we will be late tomorrow
We were going to do it Saturday but we had appointments we couldn't change.
Thanks for confirming what I felt in my gut.
We would need to take off work. I can't imagine this hitting a bank here only with 150 branches before Friday.
I am not sure at this point.