- September 29, 2007 at 6:55 pm #53192
This friday late the US online bank was shut donw by the federal regulators due to the huge amount of mortgage defaults.
It is very curious to do this at late friday. In order to aboid panic?
Also the Federal Deposit Insurance Corp only assures the first 100.000$ in deposits that will be in charge of ING bank. (You can go to http://www.netbank.com and you will see the welcome message of ING, of those deposits insured of course).
We also can read this in the article of Money CNN:
“NetBank had $109 million in deposit accounts that exceeded the FDIC limit. Those customers will become creditors in NetBank’s receivership, the FDIC said. The FDIC has a toll-free number for customers affected by the failure:1-888-256-6932.”
What will happend next week? Total ignorance by the media or another week of panic?
- September 29, 2007 at 8:44 pm #75330
More news at Financial Times:
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