You all know what is going on with the mortgage market and the fix these two agencies are going through. I saw on the news where they were talking about us on the verge of a depression to match that of the stock market crash in 1929. If I remember my history right all these big investors pulled their holdings out of the banks and the economy crashed.
Our money in the banks are insured by the FDIC, so I don't think that could happen again; however some folks have been talking about taking their money out of the banks. I also took my money out of the bank.. the only thing my bank will get is my online money from paypal for now.
So if you have a significant amount of money in the bank, are you thinking of taking it out? Do you think the market could crash like it did before in 29?
[question posted by OreoCookie3]
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