GMAC (and other banks) strength-

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date GMAC (and other banks) strength- hh_online 07-14-2008  Re: GMAC (and other banks) strength- PeterL 07-14-2008  Re: GMAC (and other banks) strength- 123go 07-15-2008  Re: GMAC (and other banks) strength- joeu2004 07-27-2008
Posted by on July 14, 2008, 1:23 pm We have a MMA through GMAC. The continuing banking woes lead me to ask, 'is GMAC a strong bank to continue doing business with?' I realize regular accounts of federally insured up to 100K, but I certainly want to avoid drama is possible. How can consumers trust the stength of their bank after this mess has shown that banks were keeping assets and liabilities off of the books? This certainly seems like it has been major mess and it still hasn't fully played out. Regards, HH -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by PeterL on July 14, 2008, 2:43 pm On Jul 14, 10:23 am, hh_onl...@mindspring.com wrote: > We have a MMA through GMAC. The continuing banking woes lead me to > ask, 'is GMAC a strong bank to continue doing business with?'  I > realize regular accounts of federally insured up to 100K, but I > certainly want to avoid drama is possible. > > How can consumers trust the stength of their bank after this mess has > shown that banks were keeping assets and liabilities off of the > books?  This certainly seems like it has been major mess and it still > hasn't fully played out. > > Regards, > HH > HH, is that a rhetorical question? I agree with you that there is a lot of uncertainties out there regarding banks. The best answer would be to hedge your risk by putting your money in FDIC insured institutions and never more than $100,000 in the same bank. -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by 123go on July 15, 2008, 5:11 am > We have a MMA through GMAC. The continuing banking woes lead me to > ask, 'is GMAC a strong bank to continue doing business with?' I > realize regular accounts of federally insured up to 100K, but I > certainly want to avoid drama is possible. > > How can consumers trust the stength of their bank after this mess has > shown that banks were keeping assets and liabilities off of the > books? This certainly seems like it has been major mess and it still > hasn't fully played out. I use bankrate.com -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by joeu2004 on July 27, 2008, 2:20 pm > > How can consumers trust the stength of their bank after this mess > > has shown that banks were keeping assets and liabilities off of the > > books?  This certainly seems like it has been major mess and it still > > hasn't fully played out. > > I use bankrate.com FYI, bankrate.com gave 1st National Bank of Nevada a rating of 1 star and CAEL rating 5, its lowest rating. Good call! But it gave First Heritage Bank NA a rating of 3 stars and CAEL rating 3, the same rating for Bank of America (NA, Calif). Both banks were taken over by the FDIC on Friday. I looked at bankrate.com over the weekend. I don't know if they scrambled to adjust their rating of 1st National B of N; but if they did, they neglected to adjust their rating of First Heritage. -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Similar Threads Posted Anyone understand what's going on with GMAC? November 5, 2008, 1:10 pm Balance Sheet Strength August 25, 2008, 7:14 pm What banks are safe? July 28, 2008, 4:00 pm LOOK ME:) - question about banks, interest % :) November 12, 2006, 3:44 pm Investing with Private Banks December 15, 2006, 4:59 am Banks Re-Defining "Deadbeat" January 13, 2007, 9:55 am FDIC "Troubled Banks List" ? July 16, 2008, 1:44 pm What is stopping banks from modifying loans prior to foreclosure? December 20, 2008, 6:54 pm