Comments on: It’s Looking Like Every Financial Institution Wanted a Piece of the Subprime Action http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 02:50:51 +0000 hourly 1 http://wordpress.org/?v= By: Frank http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-204824 Frank Sun, 06 Jan 2008 13:17:39 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-204824 Put on your thinking caps. Watch where the money flows and where it doesn't. Why is Citibank going to Abu Dhabi and paying 11% (holy cow!!!, yes, that is 11 "&*^%$!" %!!) for a money infustion when they will not offer hard working American savers (for those who do) an 11% CD? Why is Merril Lynch going to Singapore for a bailout when they won't offer Americans above market CD's? If these (and other companies) are so willing to offer percentages of themselves and high rates to others, why would ANYONE pay the market price (today) for their stocks? Why aren't these companies worth vastly less than the market says as of the close last week? Why would/could ING come in and offer such great savings packages for Americans for so long and no US bank would TOUCH the rates ING offered? What is REAL inflation (not the junk numbers the US gov and policy makers report and make policy with) doing to your money and your future? Why are banks and brokerages joined at the hip again? I could go on and on. What's going on here? Are you sure you want to know? Let the awake people be awake. Put on your thinking caps.

Watch where the money flows and where it doesn’t.

Why is Citibank going to Abu Dhabi and paying 11% (holy cow!!!, yes, that is 11 “&*^%$!” %!!) for a money infustion when they will not offer hard working American savers (for those who do) an 11% CD?

Why is Merril Lynch going to Singapore for a bailout when they won’t offer Americans above market CD’s?

If these (and other companies) are so willing to offer percentages of themselves and high rates to others, why would ANYONE pay the market price (today) for their stocks? Why aren’t these companies worth vastly less than the market says as of the close last week?

Why would/could ING come in and offer such great savings packages for Americans for so long and no US bank would TOUCH the rates ING offered?

What is REAL inflation (not the junk numbers the US gov and policy makers report and make policy with) doing to your money and your future?

Why are banks and brokerages joined at the hip again?

I could go on and on. What’s going on here?

Are you sure you want to know?

Let the awake people be awake.

]]> By: Mike http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-203500 Mike Fri, 04 Jan 2008 01:36:13 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-203500 I migrated from another country and noticed that every financial misadventure that happended, Citibank was involved big time. Funnily, it is the same in the US. But, they seem to have one of the best consumer accounts - Everything Counts or Citigold and so, I still keep most of my money there and it is my prime bank. Of course, I would not exceed the FDIC $100,000 any day though :) I migrated from another country and noticed that every financial misadventure that happended, Citibank was involved big time. Funnily, it is the same in the US. But, they seem to have one of the best consumer accounts – Everything Counts or Citigold and so, I still keep most of my money there and it is my prime bank. Of course, I would not exceed the FDIC $100,000 any day though :)

]]> By: David Wilson http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-203469 David Wilson Fri, 04 Jan 2008 00:45:54 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-203469 Good point JLP. This crisis is not restricted to the big NY banks. This could end up like the S&L crisis where it hit banks across the country. Good point JLP. This crisis is not restricted to the big NY banks. This could end up like the S&L crisis where it hit banks across the country.

]]> By: Ryan http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-203457 Ryan Thu, 03 Jan 2008 23:55:21 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-203457 For brokerage firms, this is a lot of the reason low expenses are important. Vanguard, for instance, was involved less in subprime because their low expenses allowed them to stay competitive with less risk. Al, those no load mutual funds may very well be involved in subprime lending. How? Either directly thru bond and money funds, or indirectly by investing you in financial institutions that are doing so. For brokerage firms, this is a lot of the reason low expenses are important. Vanguard, for instance, was involved less in subprime because their low expenses allowed them to stay competitive with less risk.

Al, those no load mutual funds may very well be involved in subprime lending. How? Either directly thru bond and money funds, or indirectly by investing you in financial institutions that are doing so.

]]> By: JLP http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-203402 JLP Thu, 03 Jan 2008 21:27:26 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-203402 Al, It's not just banks I'm talking about. I'm also including brokerage firms in my assessment. Al,

It’s not just banks I’m talking about. I’m also including brokerage firms in my assessment.

]]> By: Spokane Al http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/comment-page-1/#comment-203399 Spokane Al Thu, 03 Jan 2008 21:22:57 +0000 http://allfinancialmatters.com/2008/01/03/its-looking-like-every-financial-institution-wanted-a-piece-of-the-subprime-action/#comment-203399 Concerning your comment, ". . . same financial institutions are the ones who want to manage our money for us . . ." I don't know about you but I certainly don't have any banks managing my money. I have a bank account for some safe money that is guaranteed by the FDIC. I have a couple of shorter term CDs for emergency. Other checking/savings account type funds are with a credit union. The rest - I manage for myself via no load mutual funds. Concerning your comment, “. . . same financial institutions are the ones who want to manage our money for us . . .” I don’t know about you but I certainly don’t have any banks managing my money.

I have a bank account for some safe money that is guaranteed by the FDIC. I have a couple of shorter term CDs for emergency. Other checking/savings account type funds are with a credit union. The rest – I manage for myself via no load mutual funds.

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