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May 10, 2024, 6:03 pm
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Your bank's Texas Ratio
Published:
The Texas ratio is a measure of a bank's credit troubles. - http://en.wikipedia.org/wiki/Texas_ratio
Earlier in 2008, I was posting about bank failures (among other things) and I took just a bit of an issue with the secrecy of the "troubled institutions" list - as if you don't have a right to know. If you're still content (after bailout-mania) to listen to the beady-eyed liars who told you "don't worry, be happy" right up to the moment when they screamed "imminent economic crisis", this post isn't for you. Nothing to see, here, move along.
For the few who think my track record is good enough, here's someone else's thoughts on the matter of potential bank failures.
http://grannymillerblog.blogspot.com/2008/12/are-you-prepared-if-your-bank-fails.html
If you want to cut right to the chase and know about your own bank, someone else put together a long list of banks in the U.S. and their "Texas Ratios" - http://www.lewrockwell.com/chris/banks/banks.html
No guarantees, just putting info out there, FWIW; which is more than you'll get from regulators [who will make sure their own ASSE(t)S are safe first, before they tell you anything] or from the 'useful idiots' who always defend [and want to believe] the liars right up until the moment the truth is unavoidable.
Comments
Everyone should be prepared for an unexpected bank closing (or "holiday") or credit card freeze. Have a stash of cash on hand, especially if your bank is questionable.
I forgot about those. Credit Union accounts are National Credit Union Admin (NCUA) insured up to $250K, for now. Some get into home and car loans, but they tend to have higher standards for lending.
I don't know why anyone needs "a stack of cash on hand" Rick. Anytime a bank has failed, depositors have had ATM access. Newspapers love to show photos of panic-stricken investors, yet IndyMac is still in business today. AFAIK the people with insured bank accounts there didn't lose money, although the media showed people standing in line in the heat practically starting riots. Most of the time a takeover is on Friday and the bank reopens and does business as usual on Monday. Rick, a credit union is fine. I belong to Suncoast Schools but I shop for rates. However, if someone is really worried about a bank failing and not having immediate access to money, then having small accounts in 2 or 3 banks would take care of that problem. I know ratings don't always mean a lot, but you can use sources like bankrate safe & sound and bauers financial, both recommended by the FDIC, and only use banks with 5 star ratings. Don't get me wrong - I never said I trusted the government and I think the Federal Reserve is criminal and should be dissolved. But I see no conspiracy to hide lists of banks that might be in trouble. IMO keeping lots of cash in your mattress, (which in my case hasn't accrued high interest lately LOL) is wasteful. I hope if you do keep cash at home, you have it in a fireproof safe.
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