Police Threaten Bank Customers Waiting For Cash
Just last month I was talking with a friend about federal takeovers of failed banks. I advised my friend to put his money in two banks instead of one – just in case a bank closes its door without warning. I told him I’ve seen it happen twice – and it’s not a pretty site to see people fighting to get their money after a bank has been shuttered.
Last week, branches of Pasadena-based IndyMac bank were seized by the Federal Deposit Insurance Corporation and closed without warning. The good news is bank customers’ accounts are insured by the FDIC up to $100,000. The bad news is customers have to wait in line for hours or sometimes days to get their money out of a failed bank.
Yesterday, at least three police squad cars showed up as tempers flared outside the San Fernando Valley branch. Cops threatened to arrest customers who didn’t remain calm as they stood in line waiting to get their money.
Imagine that: threatening customers whose life savings are tied up in a bank.
My advice to you guys is to take your lunch break to go open up another account at a different bank. the AJC has just announced it will lay off 200 staff members due to dwindling advertisement sales and rising fuel costs. The immediate future looks bleak and banks are usually among the first institutions affected by a bad economy.
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- ‘Popular’ Atlanta Party Promoter Arrested for Robbing Bank
- 2 Unruly female customers beaten with metal rod by McDonald’s cashier (video)
22 Responses to “Police Threaten Bank Customers Waiting For Cash”
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Damn, what is going on? I’m glad I bank at Wells Fargo, a nationwide bank, not a small local bank. I can understand being mad, but they arent saying you cant have your money, just hold on for a few hours. Yelling and going off isnt going to get it to them any faster.
2 more lenders are in trouble. Fannie Mae and Freddie Mac. There is not so much of a concern for ppl who have mortgage loans with these 2, but more so affects those who have their stock. The economy sucks. Bush keeps saying we are not in a recession. Remember in the 1930′s ppl were lined up to withdraw their life savings in long lines. The Great Depression with soup lines miles long. Gas prices has trickled all of this down to the cost of everything. Things have to be shipped in, trucked in. If Bush would have sat down with some guy from Palistine like he said he would gas could go back down rather quick.
^^^^^that’s true but, when you don’t have a dime in your pocket and no gas in your car you get very irritated. a friend of mine had his bank acct wiped out by a identity theft. apparently it only took a few hours for a person in fl to use almost $10k. he went to his bank (wamu) and they told him they would close the acct and investigate. meanwhile they told him he couldn’t take any money out until the investigation was over…it’s been 3 weeks…and his paycheck is going to his account and he still can’t get any money out…very frustrating!^^^^
i glad i bought that fireproof safe forget a bank lol
WOW!!
We are in a serious recession and its just starting to peak.
eastpointvet Says:
i glad i bought that fireproof safe forget a bank lol
~~~i agree…keep it under the mattress like your grandma did…that’s the only way!!!~~~
“Playing with my money is like playing with my emotions…I had to warn you too many times about my money. You see, it’s the principal. There’s principalities in the whole thing!”
@
eastpointvet Says:
i glad i bought that fireproof safe forget a bank lol
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Some ppl don’t put their money in the bank for safe keeping. They want too earn the interest.
With all the ppl in line it makes me wonder how much they had in there. Your money is insured up to $100,000 after that the bank has made an exception and will insured the rest but only up to 50%
I dont have a bank account! and this is just a prime example of why I dont. I cash my check for free at Capital one cause that is why my company banks.. and the rest I hold on to.
@ brwnsugga4you. Why doesnt your friend stop his direct deposit? By now he could have had his checks in hand.
#1 said:
they arent saying you cant have your money, just hold on for a few hours
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Shiiiiid! This (blk) man had his LIFE SAVINGS in that bank, 230k+ and he can only get 100k back. The rest is less than half on the dollar. How would that make you feel. I want to get out, what I put in.
If these aren’t signs that we are headed for hard(er) times, then tell me what is.
hummm I feel that pryn…
but notice how they dont have any black folks in that line huh?…. shoot id rather bury my money in a mayonaise jar in the back yard like my granny used to do! shoot draw me a map so i dont forget than put it in the bank
and according to some; its not important to vote…. okay….. anyways,
all I can say is Bank of America baby!
Lucy Says:
@ brwnsugga4you. Why doesnt your friend stop his direct deposit? By now he could have had his checks in hand.
~~~cause he’s dumb…i think he has it stopped now, but you know with direct deposit it takes you getting another paycheck before it’s stopped!~~~~
the average person doesnt even keep enough money in there bank to earn over a couple dollars worth of interest a year which isnt doing nothing but adding to your taxable income anyway so i dont care to collect interest anyway
@PYT
When I was watching the Nightly News (and eating cereal for dinner b/c I go to bed earlier than most), thats who they were talking to. They interviewed TWO blk men who had their LIFE SAVINGS in there. Now you KNOW its about to be something when these men tried their best to save and are still left with nothing.
LOL @ the mayonnaise jar and burying it in the backyard. Makes me remember the movie SOUL FOOD when Big Momma hid all that money in the TV.
My thing is at least yall got money to put in a jar. Hell I don’t even have money to put in my pocket, purse, wallet, bottom of purse, panty drawer, boobs (don’t even have the boobs or a bra), socks, shoes, ashtray…..nuthin’. LOL
REAL STORY aka Confession
I had to dig in my ashtray yesterday to count out pennies to buy a stamp to mail a speeding ticket off to another state that I got back in May and it is due today or tomorrow! Damn shame. LOL
brwnsugga4you Says:
it’s been 3 weeks…and his paycheck is going to his account and he still can’t get any money out…very frustrating!^^^^
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Brwnsugga – tell your friend to have the job STOP HIS DIRECT DEPOSIT ASAP! His job should be able to cut him a paper check….
Alternately, Washington Mutual is supposed to be opening him a new account, while the old one is being investigated….I’d be on the phone/in the branch CURSING MOFO’s OUT if I didn’t get my $$.
Direct Deposits are quicker to stop than to start….my job stops it upon request, right then and there….starting it takes a full payperiod…..
I’ve had a couple of checks snatched up by a bogish azz bank a few years ago…. TCF Bank is the devil!
Damn PRYN……… ****PASSING A COLLECTION PLATE FOR MY GUH**** Throws in a Hamilton…
Who/what’s a Hamilton? – LOL
katgirl33 Says: Brwnsugga – tell your friend to have the job STOP HIS DIRECT DEPOSIT ASAP! His job should be able to cut him a paper check….
Alternately, Washington Mutual is supposed to be opening him a new account, while the old one is being investigated….I’d be on the phone/in the branch CURSING MOFO’s OUT if I didn’t get my $$.
~~~girl, he acted a d*mn fool….and still came out w/no money…i just called to follow up and they said the sh*t can take up to 4-weeks to investigate. they are going so far as calling all the companies where purchases were made…getting surveillance video..of who made purchases..etc…that’s ridiculous!!!~~~
I’m hearing that Washington Mutual may be the next bank to go down. They’ve made quite a few loans to folks that didn’t pay them back and their stock is dropping.
I’ve seen this on the news also I actually have a friend that worked for Indymac but was laid off last year.
From what I understand these people are insured up to $100k anything over that you get 50 cents on the dollar. Once the company is disolved and all assets are liquidated I’m sure their will be a lawsuit and the leftovers will be split up between account holders.
If you’re ever in such a great position to have more than $100k in the bank just make sure it’s not all in one account.