POSSIBLE BANK FAILUREgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
This is a post from the Michael Hyatt BB:
"BANK FAILURE Susan Member posted September 09, 1999 02:05 PM ---------------------------------------------------------------------- I live in Bear, Delaware. My daughter just came to my house after leaving her bank, Sun National. The bank was turning everyone away saying their entire computer system was down. My daughter then asked if she could go to another branch and was told No, all their branches were down. She was told the bank has no way of verifying customers funds. Needless to say, there were many unhappy customers. My daughter told me one woman was practically in tears because she needed the cash for her baby. Has anyone else had any problems?"
So obviously all that "spin" they have been giving us about keeping financial records may not mean alot, huh?
-- tt (email@example.com), September 09, 1999
Another post from the BB re: a possible failure of the AFDC system in that state
demommy Member posted September 09, 1999 12:26 PM ---------------------------------------------------------------------- I'm in Texas, and just got off the phone with my neighbor, she's been trying to get an AFDC card replaced since 9-1-99, and when she called their office today (9-9-99) she was told that their computers ARE down! They told her it was due to the date?! I thought that nothing was going to happen today!!! She can't get it replaced until they come back up , and can't get her food also!
-- tt (firstname.lastname@example.org), September 09, 1999.
Shift happens. Listen folks, this is why it's so important to always have a few spare bucks handy. I'm lucky, having had a steady job for 3 decades. For at least the last 2, I've always had about $1000 at the house. Maybe you can't afford that much, but you sure should be able to keep an extra 20 or 50 or 100 "for a rainy day" aka STORM!
Tick... Tock... <:00=
-- Sysman (email@example.com), September 09, 1999.
Any more about this?
-- could be interesting (firstname.lastname@example.org), September 09, 1999.
A software helpdesk I am familiar with had an unusual number of people calling in with computer malfunctions today, including proportionally more hard disk/motherboard problems than usual.
-- MinnesotaSmith (email@example.com), September 09, 1999.
The following is an article I received this morning in "STREETMAIL, SOUTHERN WV," a weekly epaper.
"WHO WAS MINDING THE BANK? Some McDowell County residents were surprised this week to find their bank closed - for good. The First National Bank of Keystone closed its doors and turned its assets over to the Federal Deposit Insurance Corporation, leaving some account holders in the lurch. The luckiest former First National customers had their accounts transferred to Ameribank, with the help of the FDIC, and can now write checks and withdraw money from their new accounts. The owners of another $768 million will receive checks for their now-homelessfunds, and must find another bank. (The FDIC provides information about what to do when your bank fails at http://www.fdic.gov/deposit/deposits/bank/index.html .)"
No word on the reason; may be Y2K related, may not. Sudden, though.
-- de (delewis @XOUTinetone.net), September 10, 1999.
First National Bank of Keystone closure discussed on this thread.
Note.. this was no little mom&pop bank.
-- Linda (firstname.lastname@example.org), September 10, 1999.
Sysman, you have been VERY fortunate...more so than most Americans...if you have been employed for 3 decades!!! Many of us have had firms close, merge, move, sell out, etc., which has meant more job losses for us (I've had ALL the above in the 80's and 90's!) and thus more lost income than you'd care to know about. For many Americans, they are just glad to be living paycheck-to-paycheck, and they cannot save anything for retirement, nor have spare cash in the house. If the woman mentioned in the post above was needing her AFDC, that means she hasn't ANY money at all, and her children depend upon that lone resource to even eat! Many on this forum who've been fortunate in life and who've prepped to the max because they have the resources, do not know how "the other half" lives. Ever heard of Appalachia? PA-OH-IN joblessness and decline since coal mines and steel mills went out of business (or I should say overseas)? Or the New England towns where the clothing and shoe industries moved overseas? Or...on and on. These Americans are HURTING. Let's have compassion upon those who haven't been able to realize the so-called American Dream.
-- Elaine Seavey (Gods1sheep@aol.com), September 10, 1999.