According to an FDIC press release today, basic FDIC insurance coverage is permanently increased to $250,000 per depositor – On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount [...]
financials
The Card Game
I have a debit card. I think I may have used it on one or two occasions in an emergency, only because I forgot that I didn’t have any cash on me and the amount seemed too small to charge. Other than that, I never use my debit card. As a skeptical consumer, I always [...]
Sold Ultra Financials Proshares
Instead of writing a new post whenever I sell a stock, I usually write any follow-ups in the comments section of the original post because it makes it easier to follow what I do. But, I have some commentary about UYG that was just too long for a simple comment, so I’m writing another post. [...]
VantageSouth Bank
I own shares in a private de novo bank named VantageSouth Bank, a small community bank headquartered in Burlington (Alamance County), NC. I bought 100 shares of their stock in 2006 at $11.00/share during their initial public offering, being well-aware that investing in a de novo startup is a risky venture and I could easily [...]
Frontline: Breaking the Bank
The bets were huge and risky—billions of dollars on the housing market. The upside was undeniable—superbanks reaped billions of dollars, dominated the landscape, and gobbled up competitors. Then the bottom dropped out—the massive losses on Wall Street nearly broke the banks. In the worst crisis in decades, brand name banks are on the brink. Now [...]
To Catch a Dollar
Muhammad Yunus banks on America, trying to establish a “trickle-up” effect – a 2010 Sundance Film Festival premier documentary. Documentary Spotlight: What prevents poor people from getting ahead? Banks refuse to give credit without collateral. Where commercial banks see insolvency, Nobel Prize–winning economist Muhammad Yunus sees opportunity. His groundbreaking Grameen Bank was built on the [...]