Your bank's Texas Ratio

Comment #4

Rick G — Thu, 01 Jan 2009 21:46:58 GMT

The best place to invest your money today is at the grocery store...non-perishables.

Comment #3

justxploring — Thu, 01 Jan 2009 19:03:50 GMT

<br />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 c... [ More ]

Comment #2

time*treat — Thu, 01 Jan 2009 10:25:57 GMT

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.

Comment #1

Rick G — Thu, 01 Jan 2009 01:13:48 GMT

<br />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.

Original Blog Entry: Your bank's Texas Ratio

time*treat — Wed, 31 Dec 2008 17:44:51 GMT

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.

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