Comments on: Retail Customers on High Alert About Bank Safety http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html#comment-16101 Anonymous Fri, 19 Sep 2008 18:55:00 +0000 http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about-bank-safety/#comment-16101 September 19, 2008<br/><br/>PS to Hank from Earl:<br/> <br/>Hope you caught my ending post (3 of 3) installments of the first episode of the “Hank & Earl” show. It can be found near the bottom of the blog article below. The key element is my plan to knock over my local branch of the “Shadow Banking System”, and no I still haven’t been able to find it, buy hey, Hank and Ben still haven’t found the World Headquarters” yet either.<br/> Earl<br/><br/>Fed Ponders Provides $85 Billion Rescue for AIG (U... September 19, 2008

PS to Hank from Earl:

Hope you caught my ending post (3 of 3) installments of the first episode of the “Hank & Earl” show. It can be found near the bottom of the blog article below. The key element is my plan to knock over my local branch of the “Shadow Banking System”, and no I still haven’t been able to find it, buy hey, Hank and Ben still haven’t found the World Headquarters” yet either.
Earl

Fed Ponders Provides $85 Billion Rescue for AIG (U…

]]> By: dr q http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html#comment-16100 dr q Fri, 19 Sep 2008 18:43:00 +0000 http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about-bank-safety/#comment-16100 That hurt me to read that woman's story. I have two more pieces of advice. If you have medical needs a) be 100% open with your physician about your financial situation. We won't screw you. At least I wouldn't, and the majority of my colleagues wouldn't either. Institutions like hospitals are a different story, but surprisingly richer hospitals are often more flexible since they have more paying customers and a bit more institutional guilt. You should be able to get some free samples and your doc should be able to pick generics that provide 80 if not 100% of the benefits. <br/>2. Join Costco, their pharmacy has the absolute lowest prices on generics. Other places are grossly overpriced. That hurt me to read that woman’s story. I have two more pieces of advice. If you have medical needs a) be 100% open with your physician about your financial situation. We won’t screw you. At least I wouldn’t, and the majority of my colleagues wouldn’t either. Institutions like hospitals are a different story, but surprisingly richer hospitals are often more flexible since they have more paying customers and a bit more institutional guilt. You should be able to get some free samples and your doc should be able to pick generics that provide 80 if not 100% of the benefits.
2. Join Costco, their pharmacy has the absolute lowest prices on generics. Other places are grossly overpriced.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html#comment-16088 Anonymous Fri, 19 Sep 2008 16:49:00 +0000 http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about-bank-safety/#comment-16088 September 19, 2008<br/><br/>The continuing saga of the “Hank and Earl” show:<br/><br/>Dear Hank:<br/><br/> You and Ben have speeded up your regulation hand wavings to such a degree that it’s hard for the little guy, average American, aka “Collateral Damage” to keep up. Your master stroke of yesterday making “good will” useable as prime collateral in meeting bank reserve regulations had me up all night thinking about a parallel “hand waving” that you and Ben could do for us down here on Main Street America. All you have to do is monetize the family photo album, and don’t worry we’ll just make copies just like you and Ben are doing with the dollar. Geez Louise, your presses must be smoking by now.<br/><br/> I would suggest that you make B&W snapshots $1.00, color $5.00, on up the scale to framed 8 1/2x 11 at $10,000. I’m feeling rich already, just like you and Ben must be feeling on the global scale. The term omnipotent comes to mind. <br/><br/> Please remember that all you have to do is to “say” it, not write anything, much less have that messy bunch of Dems. and Rep. down in that thing called Congress pass anything. When are they ever going to grow up and realize that we now have a country of men not laws? What a drag.<br/><br/> OK Hank, and again, I do hope you remember that we’re in this thing together.<br/><br/>Your buddy (hope I’m not overstating the case),<br/><br/>Earl<br/>Santa Cruz, CA September 19, 2008

The continuing saga of the “Hank and Earl” show:

Dear Hank:

You and Ben have speeded up your regulation hand wavings to such a degree that it’s hard for the little guy, average American, aka “Collateral Damage” to keep up. Your master stroke of yesterday making “good will” useable as prime collateral in meeting bank reserve regulations had me up all night thinking about a parallel “hand waving” that you and Ben could do for us down here on Main Street America. All you have to do is monetize the family photo album, and don’t worry we’ll just make copies just like you and Ben are doing with the dollar. Geez Louise, your presses must be smoking by now.

I would suggest that you make B&W snapshots $1.00, color $5.00, on up the scale to framed 8 1/2x 11 at $10,000. I’m feeling rich already, just like you and Ben must be feeling on the global scale. The term omnipotent comes to mind.

Please remember that all you have to do is to “say” it, not write anything, much less have that messy bunch of Dems. and Rep. down in that thing called Congress pass anything. When are they ever going to grow up and realize that we now have a country of men not laws? What a drag.

OK Hank, and again, I do hope you remember that we’re in this thing together.

Your buddy (hope I’m not overstating the case),

Earl
Santa Cruz, CA

]]> By: dd http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html#comment-16032 dd Fri, 19 Sep 2008 12:24:00 +0000 http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about-bank-safety/#comment-16032 yves,<br/>Looks like Treasury guaranteeing money market mutual funds:<br/>Treasury Announces Guaranty Program for Money Market Funds<br/>The U.S. Treasury Department today announced the establishment of a temporary guaranty program for the U.S. money market mutual fund industry. For the next year, the U.S. Treasury will insure the holdings of any publicly offered eligible money market mutual fund – both retail and institutional – that pays a fee to participate in the program.<br/><br/>http://www.ustreas.gov/press/releases/hp1147.htm yves,
Looks like Treasury guaranteeing money market mutual funds:
Treasury Announces Guaranty Program for Money Market Funds
The U.S. Treasury Department today announced the establishment of a temporary guaranty program for the U.S. money market mutual fund industry. For the next year, the U.S. Treasury will insure the holdings of any publicly offered eligible money market mutual fund – both retail and institutional – that pays a fee to participate in the program.

http://www.ustreas.gov/press/releases/hp1147.htm

]]> By: Richard Kline http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about.html#comment-16026 Richard Kline Fri, 19 Sep 2008 11:10:00 +0000 http://www.nakedcapitalism.com/2008/09/retail-customers-on-high-alert-about-bank-safety/#comment-16026 I have no financial advice for the woman in North Carolina, but I have some practical advice, having lived poor nearly all of my adult life. First, the amount of money you have in savings won't be enough to give you any maneuverability, so in a real pinch it won't do you much good in monetary form. Beyond a month's rent above your cash flow to give you a backstop and a small emergency fund, I'd suggest three actions to backstop your situation. 1) Invest in some good, durable clothing of the kind you would use for the work you will be seeking; no huge amount but a couple of changes of duds over and above what you use every day. Good shoes you can actually walk and be productive in. Cash may not be there later when you will need these things to stay in the job market. 2) Buy a bicycle and know how to get around on it. Leave the cash vampire parked as much as possible and do your personal activities self-mobile. Saves money, and exercise is the best anti-depressent known to humanity. 3) If you have a low cost laptop, well and good; if not get one (few hundred bucks, really), with a wireless connection. Know where you can get free wifi, at a library or a coffeeshop: That will be you contact with job listings and resources, especially if you are limiting your car travel. 4) If you have a medical condition, lay in a supply buffer of what you need over and above your normal consumption. In addition, find our where your public health authorities are in your area, and how to access their services in a pinch. This is not pleasant, and you may not need it, but if you do being behind the curve can be extremely expensive and directly threatening to your well being. <br/><br/>If you do not have enough cash for those four things, consider selling some things you have to raise cash for that minimum resource base, which will serve you no matter where you are living. Start by selling your TV, and liquidate some of those DVDs and etc. until you have the scratch to be adequately capitalized for a stint as a marginal citizen. <br/><br/>And love, I hope you're not voting Republican? The other folks are kinda feckless, but if you're voting Republican there's no advice in the world that will do you any good 'cause you haven't got the sense to save yerself. Bye now, and best of luck. I have no financial advice for the woman in North Carolina, but I have some practical advice, having lived poor nearly all of my adult life. First, the amount of money you have in savings won’t be enough to give you any maneuverability, so in a real pinch it won’t do you much good in monetary form. Beyond a month’s rent above your cash flow to give you a backstop and a small emergency fund, I’d suggest three actions to backstop your situation. 1) Invest in some good, durable clothing of the kind you would use for the work you will be seeking; no huge amount but a couple of changes of duds over and above what you use every day. Good shoes you can actually walk and be productive in. Cash may not be there later when you will need these things to stay in the job market. 2) Buy a bicycle and know how to get around on it. Leave the cash vampire parked as much as possible and do your personal activities self-mobile. Saves money, and exercise is the best anti-depressent known to humanity. 3) If you have a low cost laptop, well and good; if not get one (few hundred bucks, really), with a wireless connection. Know where you can get free wifi, at a library or a coffeeshop: That will be you contact with job listings and resources, especially if you are limiting your car travel. 4) If you have a medical condition, lay in a supply buffer of what you need over and above your normal consumption. In addition, find our where your public health authorities are in your area, and how to access their services in a pinch. This is not pleasant, and you may not need it, but if you do being behind the curve can be extremely expensive and directly threatening to your well being.

If you do not have enough cash for those four things, consider selling some things you have to raise cash for that minimum resource base, which will serve you no matter where you are living. Start by selling your TV, and liquidate some of those DVDs and etc. until you have the scratch to be adequately capitalized for a stint as a marginal citizen.

And love, I hope you’re not voting Republican? The other folks are kinda feckless, but if you’re voting Republican there’s no advice in the world that will do you any good ’cause you haven’t got the sense to save yerself. Bye now, and best of luck.

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