Can you get a loan from a bank with bad credit

What happens if you buy an insurance policy. And the company shuts down for whatever reason when you need it?

How many banks were closed down thanks to gooberment.

I was a customer of Washington mutual for years.

How bout AIG which is still around but wasn't there another big name that isn't around?

What caused PAN AM. Which was before our time. To close up?

 

1 You buy insurance from reputable companies that have history

2 you deposit your money in banks that are deposit insured.

Play with fire, you get burned. Be smart with your money. A small part of your money you can gamble with if the returns are worth it. The rest. Protect.

 

How do you know you're playing with fire?

How many businesses got started in the 19th century to disappear in the 21st century? With reputable history.

Isn't every bank required to be FDIC?
FDIC doesn't really go very far.

How do you know that sometime down the road. You're bank won't exist?

Things happen. AMD nobody can possibly know what 5 years later will bring.

 

Probably Frank Abignale caused Pan Am to go under all the money he got from them.

 

I don't know what happened. But a few years back was a story on cnbc. Of a widow who gave her inheritance to some broker. When her hubby passed. It wasn't much but she wanted it to grow for her boy college fund. At that time. PAN AM was the high flyer stock. So that's where her money went. And by the time college rolled around. PAN AM was no more.

 

A widow invested all of her inheritance into a single stock....



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That is about the dumbest thing I've ever heard in my life. I'm in the top 3% of my age group in terms of net worth (under 35) and I have my money spread across the entire world in low ER index funds including emerging market bonds and stocks,foreign stocks,domestic stocks,Reits etc...

 

Apparently they were. If not they wouldn’t have lost what they had. Like I said, I did fine during the recession.

Just because a bank is begging to loan you a bunch of money doesn’t mean you should take it.

 

There's a very good reason why they had the sub - prime mortgage meltdown back in 2008 the banks kept lending regardless of whether a person had good collateral or not I just get the feeling the banks have finally learnt their lesson.

 

There's a movie on the recession.

It said banks have always been the cause of economy downturns

 

Yes, but the down payment (or collateral) and interest rate will be higher than what folks with good credit will have to pay.