I'm kind of glad I don't live along the Wisconsin - Minnesota border. Sure, it would be fine if UW and Green Bay both win this weekend. Worse case scenario? A sweep by UM and Vikings! By the way, those who have been in my office know I have a Brent Favre painting hanging on one of the walls. I have the painting up for sale and I think I have a buyer.
Go Badgers and Packers!
Wednesday, September 30, 2009
Tuesday, September 29, 2009
Federal Deposit Insurance
I was watching an early morning news show on TV this morning. A law professor was being interviewed and being asked questions relative to the FDIC insurance fund. There were a few times when the newsman referred to the fund as the "bailout fund." He also mentioned the funds were taxpayer funds. All the money in the fund is generated by assessments levied on the insured banks. None of the money is taxpayer money.
With that being said, the fund does need to be shored up. In no way is any depositor's money at risk. But banks will be asked to ante up funds to build the reserve back to appropriate levels. There have been about 100 bank failures which have caused the fund outflow to exceed the inflow.
Remember, all checking accounts and any other account where the interest yield is less than 1/2% has unlimited insurance protection. For accounts paying over 1/2% the limit is $250,000 per account. But the definition of an account is not as clear as we'd like. So if you have over $250,000 on deposit and you are in doubt, have your personal banker explain to you exactly what your coverage level is.
With that being said, the fund does need to be shored up. In no way is any depositor's money at risk. But banks will be asked to ante up funds to build the reserve back to appropriate levels. There have been about 100 bank failures which have caused the fund outflow to exceed the inflow.
Remember, all checking accounts and any other account where the interest yield is less than 1/2% has unlimited insurance protection. For accounts paying over 1/2% the limit is $250,000 per account. But the definition of an account is not as clear as we'd like. So if you have over $250,000 on deposit and you are in doubt, have your personal banker explain to you exactly what your coverage level is.
Saturday, September 19, 2009
On Vacation
I'm on vacation. Will catch up on some things around the house and visit the north country.
Thursday, September 10, 2009
Health Care Reform
I agree there is a need for reform in some aspects of our healthcare system. But I just hope we don't rely on the federal government to run it. Let the free enterprise system function! Again, I do believe some reform is needed.
Tuesday, September 01, 2009
Bike Ride
Wow, what a bike ride in Vermont last Saturday. Hurricane Danny and the weather front moving in from the Midwest merged early Saturday a.m. in Vermont. The 100 mile ride begain with 30 mph winds; driving rain and bad roads. Rained all day. Soaked we were 7 hours later.
But what a beautiful state! Perhaps the most beautiful I have seen.
But what a beautiful state! Perhaps the most beautiful I have seen.
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