If a bank goes into liquidation the liquidator has an obligation to recover the creditor's and depositor's funds. What's the difference between a creditor and a depositor??
Answer: The creditor owes the bank and the bank owes the depositor! The latter is protected by the Government up to a set amount in the UK
Answer: A […]
what’s a pension pot?
and what’s an Annuity?
Answer: If in the UK a 'pension pot' is the total of your (& your employers) pension contributions (Plus interest/growth if you have been lucky) whilst you’re earning.
On retirement, under current UK law, the total fund (pot) can then be used to buy an annuity which is basically an […]
WaMU has been “over-milked” and is now Mooooo-ing like crazy. Should I pull out in the likelihood it collapses under the weight of its own “udderly” disastrous loans?
Answer: Everybody here will tell you FDIC is insuring them.
THINK AGAIN
http://www.bloomberg.com/apps/news?pid=2…
JP Morgan to purchase some of WaMu operations
http://www.marketwatch.com/news/story/jp…
Those are the facts, you can decide your own course […]
Hey… You never know… :p
Answer: Start a business, mismanage it and then ask George Bush for a bailout!!
Answer: become a metal detector hunter
Answer: become a porn star
…… the £35,000 'protected' sum actually be paid out? In other words, would it be paid to some other Bank? Where?
Answer: If it was a large bank, the Financial Services Compensation Scheme would probably not have enough cash to pay out immediately. There would be a period in which the failed bank […]
My husband had cancer removed last year and the medical insurance paid all but 9000 of it. I was paying each month something to the creditor that they hired. Then in August my husband after 10 years got laid off and in unemploy'd. I have still been paying but only 35 to […]
I know about the FDIC, but everything is failing right now. And if the government spends 700 billion to 2 trillion dolllars in one day, how can my bank (Washington Mutual) stay afloat. I was watching CNN yesturday, and saw this lady who lost 20 thousand. It just vanished. It didnt say whether her bank […]
Is there a website or someone I need to call in my community?
Answer: Home improvement allows are VERY LIMITED. Check with your state.
You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Allows.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on allows. Browse […]
I was left with $300k, I'm 55 yrs old can I retire and have a monthly income? My home is paid for.
Answer: totally!! You should see a financial planner to help you set up investments and they will also advise you on how to handle your cash. I’m pretty sure there are going to be […]
Please think for a second if all banks fail how would the government be able to pay back all that debt. I know the banks and government state that your money is FDIC up to 100,000 but just think if all the banks was to fail at once how would the government be able to […]