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hundreds rush bank in NY

Originally posted by: CTho9305
Guess they don't know what FDIC insured means.
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Actually, they have valuables inside security deposit boxes that are not FDIC insured.

Read that in another article... it said they were afraid those belongings were being stolen as well.
 
"Language was a problem because while many of the depositors understood only Fujianese, a dialect spoken in the south of China, many of the bank's officials spoke Cantonese or Mandarin. Many in line wore masks due to fears about severe acute respiratory syndrome, or SARS. "

Nuff said.
 
Originally posted by: CTho9305
Guess they don't know what FDIC insured means.
Click to expand...

Possibly, but if I had reason to beleive my bank was in danger of absolving I would transfer my funds to another institution.

Not sure exactly how the FIDC works in such a situation but the Federal part of FDIC reeks of "long and drawn out process" in my mind.
 
Originally posted by: ZOXXO
Originally posted by: CTho9305
Guess they don't know what FDIC insured means.
Click to expand...

Possibly, but if I had reason to beleive my bank was in danger of absolving I would transfer my funds to another institution.

Not sure exactly how the FIDC works in such a situation but the <EM>Federal</EM> part of FDIC reeks of "long and drawn out process" in my mind.
Click to expand...

if your bank went bankrupt, you just have to show them how much you have in your bank. they will write you a check RIGHT AWAY! insured is up to 100,000. those people are just DUMB
 
A newspaper article from a Chinese language publication started the hysteria. English media was only covering the frenzy after it started.
 
Originally posted by: Shockwave
"Language was a problem because while many of the depositors understood only Fujianese, a dialect spoken in the south of China, many of the bank's officials spoke Cantonese or Mandarin. Many in line wore masks due to fears about severe acute respiratory syndrome, or SARS. "

Nuff said.
Click to expand...


ahh, Fujianese... my pop looked at the news video and he told me they were.

Why so much Fujianese, and I was told this Bank, Abacus, unlike others there ...HSBC, Citibank, offer the service of some kind of International fund transfer thingy.... like a Western Union? kind of thing, and they send alot back and often.
 
Stupid people. If people withdraw all their money from that bank enmasse then the bank, which may be very healthy right now, might very well might fall into financial trouble.
 
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