Exact(2)
You know, you borrow money at 3% from your depositors, you lend it out at 6% and then you're on the golf course at 3 00.
It is not altogether your money but rather that of your depositors, much of which is insured by the government's Federal Deposit Insurance Corporation, or convenient TARP monies, or myriad other government-funded programs.
Similar(58)
From the perspective of depositors, the choice is obvious: keep your money in the bank, where one-year deposits earn just 3.3%, or get a higher rate, even double that, with Yu'E Bao.
Incidental Intelligence: The Dime Savings Bank of Brooklyn is advising its depositors to "take the money-worry out of your next holiday season" by making weekly….
Incidental Intelligence: The Dime Savings Bank of Brooklyn is advising its depositors to "take the money-worry out of your next holiday season" by making weekly deposits of anything from fifty cents to ten dollars in the Dime's new Chanukah Club.
The New Yorker, December 15 , 1962P. 32 Incidental Intelligence: The Dime Savings Bank of Brooklyn is advising its depositors to "take the money-worry out of your next holiday season" by making weekly deposits of anything from fifty cents to ten dollars in the Dime's new Chanukah Club.
The danger of holding so much paper in your own portfolio is that the short rates Golden West pays its depositors and on its borrowings could fall out of alignment with the long rates it charges on mortgages.
Depositors will not lose if you make bad loans, but your owners and management will.
Given your family's vast wealth, why won't you make the relatively small underinsured depositors whole?
Would you feel confident leaving your money in a Greek bank account, knowing that capital controls and losses for depositors had been part of the deal for Cyprus?
(See "Think Your Money is Safe? Think Again: The Confiscation Scheme Planned for U.S. and U.K. Depositors").
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