Dads friend lost $600,000 when wachovia fell

[boonstack]

I think he said it was in his checking account, or some huge savings.. anyway, the limit was 100k, but his mindset was literally "meh, nothin'll happen" a few days beforehand when everyone worried. He went on vacation and by time he came back few days later, he was fucked. Bet he wont be such a dumbass now

[gordiano]

Seriously?

Wow.....

[Relentless]

I think he said it was in his checking account, or some huge savings.. anyway, the limit was 100k, but his mindset was literally "meh, nothin'll happen" a few days beforehand when everyone worried. He went on vacation and by time he came back few days later, he was fucked. Bet he wont be such a dumbass now

How can someone have that much money yet be so stupid with it?  "A fool and his money are soon parted."

[boonstack]

idk i cannot comprehend it. i dont have full details, but that was 95% it. He based his decision on "ill be ok.. it only happens to OTHER ppl".. maybe if a few months pass things will get better he may be able to regain with wachovia being bought

[Rudee]

I call shens.

[Big_Tymer]

Yes, and all the congressman risked losing millions of dollars in the recent bank failures and only received 100k from the fdic had they not been saved by the bailout bill.  That friends is why the bailout was passed, so the congressman wouldnt have to trade their millions out for 100k.  They dont give a shit if the bailout will fuck the average americans in the ass, they just want their money to be safe.