The media (loan, small business, credit, company)

[MomOfToo]

Anyone else feel that the media isn't helping the situation? I mean, instead of making people panic about what is going to "happen" if this bailout doesn't occur, they should be telling us what we need to do ex/keep your money in the bank instead of going for a bank run which will collapse this economy in no time and make our dollar worthless anyway. Just today they are talking about raising the FDIC standards to cover accounts with 200K (or something like that) Yeah thats a good idea but if people just go and withdraw all their money-how is that going to help us?? The media and all these people they are talking to will make people run. They will come out with another "revised" bailout plan. They all didn't agree-why jump on one idea, this needs to be really thought through. They are trying to do the right thing for once. The problem with American politicians-just jump on one idea with out reviewing the consiquences. Maybe they really are thinking about the taxpayers and whats best for us??? The more I am watching tv-the more I am believing that they are hyping things up and will make Americans run into a panic.

[jimj]

Originally Posted by MomOfToo

Anyone else feel that the media isn't helping the situation? I mean, instead of making people panic about what is going to "happen" if this bailout doesn't occur, they should be telling us what we need to do ex/keep your money in the bank instead of going for a bank run which will collapse this economy in no time and make our dollar worthless anyway. Just today they are talking about raising the FDIC standards to cover accounts with 200K (or something like that) Yeah thats a good idea but if people just go and withdraw all their money-how is that going to help us?? The media and all these people they are talking to will make people run. They will come out with another "revised" bailout plan. They all didn't agree-why jump on one idea, this needs to be really thought through. They are trying to do the right thing for once. The problem with American politicians-just jump on one idea with out reviewing the consiquences. Maybe they really are thinking about the taxpayers and whats best for us??? The more I am watching tv-the more I am believing that they are hyping things up and will make Americans run into a panic.

Some of the "hype" is true IMO, there will be a shutdown of commercial credit, just look at the libor rate going to 8%.
People are looking at this like it's going to affect you today, that you'll go to the bank and not be able to get a loan. That's not the issue. This is going to affect many peoples employers and my concern is in massive job losses and company shut downs. As for the media not giving any "real" advice, you're right! That's because they have no better idea of what's to happen than anyone else at this point. It would be better if they'd just shut it for a while...

[jimmyP]

Actually raising the FDIC limits would go a long way towards calming the nerves of investors and settling down banks. I had an account with approx $150,000 with one of the solid banks. But I still opened another account and moved $50,000. There are a lot of small businesses that have high balances from time to time and all this media hysteria is scaring people into moving money around like they never have before. This is disruptive as banks have a hard time to keep track of their capital when it happens on a large scale.

I say raise it to $500,000.

[MomOfToo]

They have plans to raise it to 250K-I don't have alot of cash either way but whatever makes things better for this country-I am all for it!

[jimj]

Originally Posted by jimmyP

Actually raising the FDIC limits would go a long way towards calming the nerves of investors and settling down banks. I had an account with approx $150,000 with one of the solid banks. But I still opened another account and moved $50,000. There are a lot of small businesses that have high balances from time to time and all this media hysteria is scaring people into moving money around like they never have before. This is disruptive as banks have a hard time to keep track of their capital when it happens on a large scale.

I say raise it to $500,000.

I hope you put the 50k into another bank. It's my understanding of the FDIC laws it's a per account PER BANK coverage.