Friday, February 13, 2009

"We Don't Need to be Rescued"



The image above is from the website of my local bank, NVE Bank. Incidentally, the reason I initially opened an account at this bank was because it was listed as one of the safer banks in the country in Ravi Batra's book, Surviving the Great Depression of 1990. If memory serves, Batra's thesis was that the big build-up in federal debt during the 1980s had set the stage for catastrophe. I'll have to see if I still have the book somewhere and peruse it again to be sure.

2 comments:

Plato said...

A smart depositor will put his oney in the worst-rated bank with the highest yields as long as they're covered under the FDIC limits.

DaveinHackensack said...

Batra's issue with that, if I remember it, was that it could take months to get your money from the FDIC.