19 Burst results for "Federal Deposit Insurance Corporation"
"federal deposit insurance corporation" Discussed on KQED Radio
"A report out this week from the FBI see the Federal Deposit Insurance Corporation caught our eye Banks are among other things. Lenders and the FBI. See, says lending volume fell in the most recent quarter. Driven by decreases in commercial and industrial lending marketplaces. Justin Home explains what's going on Cos normally use bank loans to grow their businesses, maybe build a new factory or acquire another business. But Drew Pascarella Cornell University says that kind of activity hasn't fully recovered. Mergers and acquisition volume in the U. S is down 30% year over year. Pascarella says companies also used bank loans to raise cash for a rainy day. That happened a lot of the outside of the pandemic. The companies that had existing relationships with banks. They ran to the banks and tried to borrow as much money as they could in the time since that kind of panic borrowing from banks has calmed down, says Karen Petru, a federal financial analytics. Companies felt more secure that the world wasn't coming to an immediate end. But Petra says the economy is still shaky in the idea of taking on more bank loans doesn't seem prudent for a lot of companies, even with interest rates near record lows, no matter what the interest rate is, if you're a corporate borrower You need to pay it back when bigger companies have needed cash. They've been raising it from investors by issuing bonds. Those have longer pay off periods than bank loans and come with fewer conditions, says Matteo Arena and Marquette University. So as bones, the more attractive right then this less need for going to a bank for a new Lord. But smaller companies don't have the option of issuing bonds. Arena says. Those companies are borrowing less from banks because many of them are going out of business. I'm Justin.
"federal deposit insurance corporation" Discussed on WNYC 93.9 FM
"Doing. But a report out this week from the FBI see the Federal Deposit Insurance Corporation. What are I banks are among other things. Lenders and the FBI. See says lending volume fell in the most recent quarter, driven by decreases in commercial and industrial lending marketplaces. Justin Home explains what's going on. Cos. Normally use bank loans to grow their businesses, maybe build a new factory or acquire another business. But Drew Pascarella Cornell University says that kind of activity hasn't fully recovered. Mergers and acquisitions volume in the U. S is down 30% year over year, Pascarella says. Companies also used bank loans to raise cash for a rainy day. That happened a lot of the outside of the pandemic. The companies that had existing relationships with banks. They ran to the banks and tried to borrow as much money as they could in the time since that kind of panic borrowing from banks has calmed down, says Karen Petru, a federal financial analytics. Companies felt more secure that the world wasn't coming to an immediate end. But Petro says the economy is still shaky in the idea of taking on more bank loans doesn't seem prudent for a lot of companies, even with interest rates near record lows, no matter what the interest rate is, if you're a corporate borrower You need to pay it back when bigger companies have needed cash. They've been raising it from investors by issuing bonds. Those have longer pay off periods than bank loans and come with fewer conditions, says Matteo Arena and Marquette University. So as bones a more attractive right then this less need for going to a bank for a new Lord. But smaller companies don't have the option of issuing bonds. Arena says Those companies are borrowing less from banks because many of them are going.
"federal deposit insurance corporation" Discussed on KCRW
"What they have been hearing from governors has been a different kind of candor and directness about the difficulty ahead really telling their states that they are facing many many long and difficult months and asking voters to trust them that it will be okay hi Michael that's coming up on the deal from the New York times live from NPR news in Washington I'm Louise Schiavone sign pose for the U. S. economy became more dire today with the labor department reporting seven hundred one thousand jobs were lost in the month of March Diane Swonk chief economist at grant Thorton says this is just the beginning as the world started to shut down before the initial term place laws actually went into place there was a lot of losses we knew that week we weren't sure how much we're going to show up but this is just the tip of the iceberg and what we're going to be seen is in the millions and millions the Dow today closed down three hundred sixty points the Federal Deposit Insurance Corporation has announced it's closing a bank in West Virginia the FDIC says the first State Bank it been failing since the end of last year it's accounts were being taken over by M. V. B. bank also of West Virginia the regulator said the bank had been closed today by state regulators after a long standing capital an asset quality issues the White House is now taking additional steps to protect president trump and vice president pence from corona virus and P. R. Scott Detrow reports everyone coming on to the White House grounds already had to get their temperature taken now the White House is taking the precautions further according to a statement from deputy press secretary Judd Deere anyone coming close to the president or vice president will now have to take a test in order to guard against any transmission from people who aren't showing symptoms so far there's been one confirmed case from a White House staffer according to the White House the president has been given to test so far and the vice president has been given one both men tested negative each time the step comes as the trump administration continues to tout the rapidly increasing number of tests administered across the country but as many governors say they're still nowhere near enough test availability Scott dentro NPR news Washington the Johns Hopkins University corona virus tracking center reports sixty nine hundred U. S..
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"Some investment firms. Let your cash sit around earning next to nothing NAS fidelity see when you open a new fidelity retail brokerage or retirement account. They'll automatically put your uninvested cash into a money market fund with a great race. Don't let your money be lazy. Open an account at fidelity dot com slash cash value. A now for the legal stuff. You could lose money by investing in a money. Market Fund which is not insured or to guaranteed by the Federal Deposit Insurance Corporation or any other government agency before investing always read the funds perspectives for policy specific to that fund fidelity easy brokerage services member. NYSE SIPC. I'm Samantha Berry. Welcome back to. She makes money moves while emily appreciates. It's not her ex's parents are generous. It also frustrates her. That makes it even more difficult. Because she's with me half the year and she's with him half the ear so half the year she's getting spoiled and getting all these wonderful gifts in wonderful toys and and then the other half of the year when she's with me I can't can't afford to give her all of that because it's just me and it's it's kind of awkward going to a store and her asking for Toy and she expects that when she's with him and she does not get that from me so it makes it mix tension there and it's kind of reminds me the of how I felt growing up. She's also frustrated by her daughter's relationship with her own parents where they never had to treat emily as a child. There's money now that they've really spend on the granddaughter. One of the big things that they do together is going to chucky cheese but when I was growing up we never did stuff like that and so it's very it's very weird and it's it's uncomfortable. I want my child to know grandparents and I won't hurt to love on them and I you know I want them to have that good relationship but it makes me a little resentful. I guess because I don't even have that relationship with my parents and now my daughter does because emily wasn't allowed to ask for things as a child. It pains her to say not her daughter especially when her daughter's father and two sets of grandparents always whistle. Yes it's easy to say. No just because I know what my bank account looks like an I know how much money I have until the next pay period and a no. What bills are coming out? I'm I'm very micromanaging of my budget. But it's hard to see her reaction most of the time she'll fall out. She's like a four year old so she'll fall all out in the middle of the floor and she'll cry and chill not understand what's happening and it's difficult and awkward at the same time because I'm not gonNA spank her for getting upset because I said No. Oh and I'll let her express those emotions of of not getting that toy but I also I'm still not going to buy her the toy so I you you know it's a conversation where I have to talk like honey. I'm very sorry but we cannot get it today and having a reasonable conversation with a four year old about money issues in that way is it's a little difficult for them to understand but at the end of the day you know. She's learning valuable lessons. That no means no and she's getting got. I guess at a young age which is good. Emily hopes saying no to her daughter. Now will mean she'll have more money for both of them in the future or salary now is forty forty five thousand dollars and she thinks when she finishes her next degree she'll be. I'm the path to make six figures before she gets there. She'll have have to start paying off her student loans. which cost around seven hundred and fifty dollars a month? She also owes twenty five thousand dollars on her car and has to pay back the private loan. She took out to pay for her custody battle. She also has a few hundred dollars in credit card. Debt my plan of action is to have figure out away to save and also pay off all of my student loans and also the credit card and the car loan and all that stuff and be able to be in a good position financially to buy a home and then also start saving up for college. She'll be five soon and thirteen years. Seems like a very long time but in the world of finances it is not. So how am I going to save enough money for her to go to college so that she doesn't have to to face the same struggle of working three jobs and also being a fulltime student that I had since. Emily had very little money growing up she says she was always inclined. Just spend anything. She did have right away. She just recently started saving using the Albert up to ten dollars a week into a savings account and she now has a couple of hundred dollars in the bank which he knows she needs more. I also want to start really focusing on retirement because I I do want to retire one day and and having a funny to do that and I also WanNa have a nice fallback fund so if something does happen I have that money in savings that I'm not freaking out if I work in the nonprofit World Arts Organization so at any moment and we could always our jobs so I want to be prepared for that as well. Emily is one of the many women who've written to Gamma after hearing this podcast. She was inspired by episode to where one of our guests Audra talked about having a folder. Who told her about money at a very young age I think one of the most inspiring moments of this podcast for me was hearing you know of show where heard her father was teaching her how to save at seven years old? I would love to know how I navigate that conversation of money. I WANNA WANNA have that type of positive impact your so. She doesn't have to worry about stuff like this when she gets older.
"federal deposit insurance corporation" Discussed on WSJ Tech News Briefing
"The news. Room of the Wall Street Journal. More and more companies are looking to get into finance the apple cart. Google pay but very few of these. These tech companies are going it alone instead. They're partnering with Financial Institutions Wall Street Journal reporter. Tell US d most will explain in just a moment but first. Let's check some tech headlines. More Americans might be able to invest early in the next facebook or Uber. A proposal narrowly approved by the Securities and Exchange Commission Wednesday expands. The number of people allowed to invest in private securities offerings hedge funds and private equity firms. Right now the process is limited. Due to accredited investors since private markets are typically riskier than public markets under the new rules certain high income earners and less qualified brokers will be added to that list list. While some are concerned that naive investors could be tempted to take on too much risk supporters of the plan. Say could help level the playing field and in a world of Unicorn Tech startups. It could create more capital for young companies to TAP DECKS COM. Set a switch in its cloud. Computing Service provider led to the recent failure of the data sharing feature feature of the company's blood sugar monitoring devices for people with Diabetes Chief Executive Kevin Sayers said decks switched cloud service providers earlier. This year for it's data sharing feature it allows friends and relatives of people wearing decks calms wearable. Blood Sugar monitors to receive glucose ratings on their smartphones and broadcom is shifting away from its roots as semiconductor maker and leaning into the more lucrative software business the Wall Street Journal reports exclusively. That the chipmaker is working with credit had at Swiss to find a buyer for its radio frequency or RF unit. The unit makes chips that helps cellphones clarify radio signals. It's a technology crucial to getting the best out of the latest phone for five G.. The new standard expected to revolutionise wireless communications the RF unit could be worth ten billion dollars. Sources tell the Journal Journal. Welcome back to the transformation minute from comcast business. What kind of effect does new technology have on employee. Engagement and productivity we asked in these hasty S. VP of comcast business companies. That embrace technology will be the ones to attract and retain the top talent so with the ability to work from anywhere. Barriers had become more fluid but these experiences are also dependent on a great network that enables each employee to have the kind of experience that brings them back to work every day. More and more tech firms have been advancing into banking here to explain is the Wall Street. Journal's tell us tell us tech firms have been increasingly partnering with banks to offer financial products. Broadly why do tech companies want to be involved in finance tech companies. See an opportunity to extend their relationship with their customers through the device or through what they use for email or other things into their financial life and the vision is that the money should become something. Sort of seamless. To what you're doing so if you're sending an email and that email might be about Oh I owe you some money. Ah that money transfer could just be seamless with that email using your device paying for things You don't need to bring your wallet when you go shopping. Just bring your device ice. Just bring your iphone or your Samsung phone or whatever that might be so tech. Companies see an opportunity to further embed their products in your life by also tying them into your financial life. Google is partnered with Citi. Group apple has a partnership with Goldman for tech companies. What's the benefit of working with a financial institution rather than going it alone. So one of the scary things. Tech Company when offering financial services is the threat of being regulated by banking regulators. When they're offering those services that might have to cause them to radically addict changed the way they do business the way that they organized their company. It would be quite a big leap for apple or Google or whoever to suddenly just directly Gli go into the banking business or certain parts of the banking business by partnering with the Bank. They can have that bank. Do the highly regulated stuff and then an offer that service under their brand or through their systems. How exactly are these. Banking Tech Partnership structured. Is there a certain type of bank. That's more likely to win a partnership ownership with a tech company so far a lot of small banks have actually had great inroads into working with some very big tech companies. Green dot for example is one Pretty Small Bank. I think that actually works with some big technology companies like apple for example the advantage there has been that those small banks aren't necessarily trying to nationally you create a banking business retail banking business in the same way that a big bank like a city group or J. P. Morgan Chase or Bank of America might be and so that small bank might be willing to kind of do a lot of that behind the scenes work for that Tech Company and Big Tech Company might have some negotiating leverage over a small bank that it doesn't with a big bank let's talk about core deposits versus brokered deposits of the Federal Deposit Insurance Corporation the FDIC said that it wants to modernize how broker deposits or classified to account for changes changes in technology. How would it do that. And what purpose would such a change serve. How exactly a deposit is treated by. Regulators has been an issue for many years back in the nineteen eighties eighties. There were some notable bank failures because those banks relied on what are considered brokered deposits brokered deposits or deposits. Don't necessarily come in directly I e you you walk into the bank and you say I'd like to be a customer. Here's my money. They come in through some third party that might be say a brokerage firm that doesn't offer banking services. This is part of what it does is part of wealth management but sort of puts its clients money all into one bank one time and could move that money around as it sees fit without. Its without the ultimate ultimate customer. The person whose money it is really even knowing so these broker deposits at the time in in the past been called hot money because of how quickly they might move and regulators regulators fear has long been that broker deposits would flee a bank very quickly. Should that bank start getting into trouble. What regulators are now saying. Is that a lot of the rules rules. About what exactly. A broker deposit is which were set. Many years ago don't account for how technology has changed and how a lot of deposits are inter mediated in some way shape or form through an APP through a website through some other thing that might in some respects make them look like a broker deposit. There's a third party involved but don't necessarily act. Ah broker deposit and the the the FDIC which is the main regulator is considering modernizing some of those rules to account for how some brokered deposits some things that might considered broker deposits actually look like what regulators call core deposits which they consider the the safest least likely to flee a bank in signs of trouble form off deposits and this would benefit tech companies if these rule changes were enacted tech companies are at risk of being labeled as brokers Because essentially they are are the front end. The customer knows. Oh I have a checking account with this tech company right. I have a Google checking account. Should they offered. I haven't apple checking account. I have my money honey with square or with Amazon. Whoever might be they they might not necessarily know who the bank behind that ultimately is. So the question is so to those. Those relationships are likely to possibly look like a broker deposit the FDIC by reclassifying. Exactly what a broker deposit is in who a broker is might make it much easier. For those tech companies to to be delivering what our core deposits to banks and that makes tech company relationships that much more valuable to banks and it kind of shifts a little bit of the balance of power towards the tech companies away from the banks because the banks so far have been able to say look where the regulated party. Here we call the shots but if things things get a little easier on the regulatory front than the Tech Company might be able to say. Hey we're bringing you good steph. Here give us a good deal. Wall Street Journal reporter. Tell us thanks a lot. Thanks for Avenue. And that's tech news briefing. I'm Charlie Turner in New York for the Wall Street Journal..
SEC moves to expand mom-and-pop investor access to risky funds
"And more tech firms have been advancing into banking here to explain is the Wall Street. Journal's tell us tell us tech firms have been increasingly partnering with banks to offer financial products. Broadly why do tech companies want to be involved in finance tech companies. See an opportunity to extend their relationship with their customers through the device or through what they use for email or other things into their financial life and the vision is that the money should become something. Sort of seamless. To what you're doing so if you're sending an email and that email might be about Oh I owe you some money. Ah that money transfer could just be seamless with that email using your device paying for things You don't need to bring your wallet when you go shopping. Just bring your device ice. Just bring your iphone or your Samsung phone or whatever that might be so tech. Companies see an opportunity to further embed their products in your life by also tying them into your financial life. Google is partnered with Citi. Group apple has a partnership with Goldman for tech companies. What's the benefit of working with a financial institution rather than going it alone. So one of the scary things. Tech Company when offering financial services is the threat of being regulated by banking regulators. When they're offering those services that might have to cause them to radically addict changed the way they do business the way that they organized their company. It would be quite a big leap for apple or Google or whoever to suddenly just directly Gli go into the banking business or certain parts of the banking business by partnering with the Bank. They can have that bank. Do the highly regulated stuff and then an offer that service under their brand or through their systems. How exactly are these. Banking Tech Partnership structured. Is there a certain type of bank. That's more likely to win a partnership ownership with a tech company so far a lot of small banks have actually had great inroads into working with some very big tech companies. Green dot for example is one Pretty Small Bank. I think that actually works with some big technology companies like apple for example the advantage there has been that those small banks aren't necessarily trying to nationally you create a banking business retail banking business in the same way that a big bank like a city group or J. P. Morgan Chase or Bank of America might be and so that small bank might be willing to kind of do a lot of that behind the scenes work for that Tech Company and Big Tech Company might have some negotiating leverage over a small bank that it doesn't with a big bank let's talk about core deposits versus brokered deposits of the Federal Deposit Insurance Corporation the FDIC said that it wants to modernize how broker deposits or classified to account for changes changes in technology. How would it do that. And what purpose would such a change serve. How exactly a deposit is treated by. Regulators has been an issue for many years back in the nineteen eighties eighties. There were some notable bank failures because those banks relied on what are considered brokered deposits brokered deposits or deposits. Don't necessarily come in directly I e you you walk into the bank and you say I'd like to be a customer. Here's my money. They come in through some third party that might be say a brokerage firm that doesn't offer banking services. This is part of what it does is part of wealth management but sort of puts its clients money all into one bank one time and could move that money around as it sees fit without. Its without the ultimate ultimate customer. The person whose money it is really even knowing so these broker deposits at the time in in the past been called hot money because of how quickly they might move and regulators regulators fear has long been that broker deposits would flee a bank very quickly. Should that bank start getting into trouble. What regulators are now saying. Is that a lot of the rules rules. About what exactly. A broker deposit is which were set. Many years ago don't account for how technology has changed and how a lot of deposits are inter mediated in some way shape or form through an APP through a website through some other thing that might in some respects make them look like a broker deposit. There's a third party involved but don't necessarily act. Ah broker deposit and the the the FDIC which is the main regulator is considering modernizing some of those rules to account for how some brokered deposits some things that might considered broker deposits actually look like what regulators call core deposits which they consider the the safest least likely to flee a bank in signs of trouble form off deposits and this would benefit tech companies if these rule changes were enacted tech companies are at risk of being labeled as brokers Because essentially they are are the front end. The customer knows. Oh I have a checking account with this tech company right. I have a Google checking account. Should they offered. I haven't apple checking account. I have my money honey with square or with Amazon. Whoever might be they they might not necessarily know who the bank behind that ultimately is. So the question is so to those. Those relationships are likely to possibly look like a broker deposit the FDIC by reclassifying. Exactly what a broker deposit is in who a broker is might make it much easier. For those tech companies to to be delivering what our core deposits to banks and that makes tech company relationships that much more valuable to banks and it kind of shifts a little bit of the balance of power towards the tech companies away from the banks because the banks so far have been able to say look where the regulated party. Here we call the shots but if things things get a little easier on the regulatory front than the Tech Company might be able to say. Hey we're bringing you good steph. Here give us a good deal.
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"Sometimes you'RE NOT GONNA get paid for a month and sometimes you're not gonNA get paid for three months and sometimes you have to chase down people people to remind them that you haven't been paid. In three months I'm Samantha Bari. The editor in chief of bomber. And this is she makes money moves Salaam according to a study by up work and freelancers union an estimated fifty seven million Americans work as freelancers and for the first time. Many say they've you freelancing as a long term career choice for some people. The flexibility he a freelancing might be particularly appealing of life and family circumstances change but the benefits of freelancing don't come without challenges ages the income can be unpredictable. You need to pay for your own health insurance. Freelance life isn't for everyone. Today's guest West and her husband have been full-time freelancers the past two years while they prefer the flexibility of Lansing. They're expecting their first child soon and having a stable income is more of a priority than ever she's currently evaluating trade-offs the come with consulting in order to to figure out what's best for herself and her family. This is her story. My name is It's thirty two years old. I live in Greenwich Connecticut. And I run consultancy with my husband doing digital media strategy. We are expecting our first child. So I'd love to have answers to questions about out financial solvency and how we can continue to work fulltime for ourselves. Instead of having to return to the corporate world before marriage it became a consultant. Two Years Go. She held a variety of nine to five jobs in media. She found the work rewarding but she always had some kind of side hustle usually. It was just freelance writing publishing articles. Occasionally picking up editing jobs things like that. It's kind of just the way I am somebody who doesn't love to have free time for better or for worse. Worse when Meredith mess her husband she found her much in more ways than one I was working at a digital media company and he was working as a book publisher so similar but slightly parallel and he then moved into more of a digital editorial field like I did and we started to develop similar skills and complementary entry skills in two thousand and fifteen they worked together on a freelance project for brewery in Brooklyn for really big beer enthusiasts really big small business isn't theseus and we really wanted to help them develop an identity and a voice in a brand. It was the kind of assignment for us where all of a sudden we realized. We work really really well together and didn't have any quibbles that leaked into our relationship where people who hustle and so having that hustle be shared between us actually actually brought us closer and we realize if we ever needed to work together we would be able to by the time married and her husband got married in two thousand and seventeen they. They were in a really strong place financially. They didn't have student loan debt. They were contributing to retirement and they had some savings they were also so able to buy a house in Greenwich Connecticut and it was used to having a nice salary that would help with lifestyle expenses and things like that but also mortgage gauge. which was something that we knew? We couldn't do unless we had a strong basis of income in two thousand eighteen meredith and her husband were working fulltime jobs with six figure salaries he was working at a student loan startup really promising and I had been working for a small business financing startup. I believe making about one hundred twenty thousand and he was making something comparable. We both had healthcare which was a big deal but married. It's job wasn't working working out in July. She moved on and that was an okay decision for me to make because my husband's still had his job. We knew we would be okay financially if it took me a little while to find a new job so I was winding down at my job two days after I decided to leave when I got a call that he had been laid off he was joking about the fact that there was an all team meeting totally out of the blue and he was like one of the company closes and we were like ha so funny and then ten minutes later he didn't have a job and it was probably the most terrified I've ever been in my entire life I've never had to Worry about finding work. I've never had a partner that's had to worry about finding work and all of a sudden there was big brick wall in front of us that said you may not be able to pay for your mortgage unit may not be able to pay for your dog. How are you going to get healthcare? We came home and we cried died a lot for a few days meredith and her husband went into financial survival mode. We had occasion. Planned to a cabin happened where we'd gotten engaged. which meant quite a bit to us and we panicked and we called and said sorry Susan? We can't come this year. We cancelled our garbage service. Is Our town doesn't have a municipal garbage. We have to do it privately. which is thirty two dollars a month but for us every penny at that point we had to look got differently so it was a lot of re evaluating what we were spending on but a lot of it was panicking to the couple's major expense consumer their mortgage around three thousand dollars a month? They had about fifteen thousand dollars in savings. Meredith husband got a small pad from his job up and was able to collect. Unemployment Meredith also had severance from her previous job so all this helped with the transition although meredith and her husband were worried about their financial future they realized their situation was an opportunity to strike out on their own so back in two thousand sixteen eighteen when we were working to help that brewery start they had recommended to us that we create an LLC for legal protection but also to make he's of billing and tax harvesting easier things like that and we were really lucky that all of a sudden we have this company that was set up that we could transition to both of us had really wanted to work for ourselves. It had always been too scary and we'd always had to good of an opportunity on the full time end with regard to salary but all of a sudden here was in front of us and it was saying you know if you're going to jump so we decided to jump more on. She makes money moves right. After this quick break open a new fidelity retail brokerage our retirement account and your uninvested cash automatically goes into a money market fund would a great race which means your cash will still be working hard for you as you mull over whether to invest in that new tech stock. Your former roommates third cousin mentioned on social media learn more at fidelity dot com slash cash value. And now for the legal stuff you could lose money by investing in a money market could fund which is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency before investing always read the funds perspectives for policies specific to a fund fidelity brokerage services member NYSE SIPC. I'm Samantha Berry. Welcome back to. She makes money moves marriages marriages and her husband knew they wouldn't be earning the kind of money they had made when they were both working. Full time the first step to sorting at their finances was figuring out the minimum minimum. They'd need to bring in each month. I decided that the floor we needed to be out was about ten thousand dollars a month and it took us a little bit of time to get there but we both decided that if we could get there we could cover our expenses and not have to worry about going out to dinner every now and then and really changing our lifestyle to the point where it was putting massive stress on us. They both wanted to freelance. But there were inherent challenges. They were relying on Cobra for healthcare and spending fifteen hundred dollars a month in out of pocket payments. They were also worried about the impact. A recession might have on their business. They thought that if one of them found a fulltime job they should probably take it so I saw an editorial director role that would have that salary that I was looking for about. One hundred and twenty-five with bonus would have been one hundred fifty and healthcare and I applied to it. I'd been applying to a few things here and there but this one I definitely put a little bit of my back into it for the cover letter and I started the interview process. I think think about five or six interviews that we had to have to figure out if I was GONNA take enough I was the right fit for them. Despite the appeal of steady paycheck and healthcare benefits meredith had some reservations. Commuting is tough on me. Spending spending time in an office without flexibility is sometimes really tough for me and I just started to worry that I was going to be losing all of these things so it was this conversation version in my head salary. Healthcare stability versus you know Flexibility Freedom Hustle for better or for worse and I panicked while I was interviewing one day before one of the interviews. I called my mom in tears saying what am I doing. Do I really want to do do this. And she said go through with the interview and you'll know once you do which I did and I took the job and it was theoretically a great fit but I have this nagging feeling in the back of my head that I didn't WanNa be fulltime and then three days into the job. We found out that we were pregnant with our first child. Finding that Maritz was pregnant. Immediately changed the couple's host priorities all of a sudden even though the child was not born yet the idea of having the flexibility to work around him and the idea of being able to be there for him for every minute that calculus just found its way into to every kind of rationality did about the finances and the stability and being at the job and I just didn't want to have have to be stressed by another job. That was a really big decision for me so I started to run the numbers and figure.
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"Today's expert is a mom who has a handle on her finances. I'm Shannon mcclay founder and CEO The financial. Jim So Shannon I. I'll Diana's pregnant congrats. She has seven thousand dollars earmarked for when the baby comes which is smart but he's not enough. It's never enough. You mean big picture. LONG-TERM I mean talk for kids. It's just and here's the thing I say. Is that win win. Money and emotions meet. We make less smart move move but when you have children there is nothing more emotional than your child may speak from experience. And you never feel ambivalent about your child. I look at my son and I either want to kill kill him or I want to kill somebody who says anything about him you know I love him with such an intensity and that emotions you will make some smart moves with your kid like you're you're gonna buy them the toy at target because you're having a rough day or you're going to want to send them to camp even though you don't have the money but you really want them to have a camp experience or you're going to send them to ballet a even though you don't have the money for a ballet but you want the best for them you want them have. You're going to make some irrational saying irrational air quotes money decisions because of the emotion. And you're GonNa feel around your child. What's the biggest expense? That should be top of mind. Suit filed cares the biggest. What childcare you going to need to utilize and how much does that cost on on average in New York at somewhere around two thousand dollars a month? So are you able to save two thousand dollars a month. Does your budget off for two thousand dollars a month for the child and I know now that I'm. Dan is also a freelancer. So you know something she has to think about two freelancers with children is how much are you going to be able to work now that you have the child because the schedule so you keep pre baby is not going to be able to be the same post baby. The good news is she's making a lot of money since the beginning of their relationship. Until now Diana's made more Gordon. Her husband she's been the main breadwinner in the relationship. That's not unusual anymore as it. Now I've been there done that Diana regardless of WHO's making he more it seems like Diana and her husband have the same values around money. I think they both sound like they are compatible. As far as frugality which is great. We have a lot of clients. That are one person's spender one person's to savor and then there's just inherently a lot of conflict as far as spending concerns but I think where they need to get aligned is like how how are they jointly spending and managing their money going forward especially now the that a baby is going to be in the picture. How do we get them there? What I tell clients is to to sit down and especially while you have some quiet time before bay becomes and say what are? How do we spend money? What are the things we value? What are the things that each of US needs to survive? Live and thrive in our lives. Like what are you working for like. Why do we get out of bed every day and and do a job like what is it for? What are the things that sets our soul on fire and for most it's not like You know a car or whatever it might be vacation. It might be a nanny petty. It might be retail therapy. I don't know it is like your mental health health physical health and wellness. What are those things that we value and then how do we pay for them together? More on she makes money moves right after this quick break she makes moves is proudly sponsored by fidelity investments. I it Sam. Let's play around of. Would you rather money edition. Would you rather wear only what you already own for three years or ten thousand dollars suspend on three new outfits but that's the only clothing you can wear for three years you. You don't have to make that choice but you do have to choose where you invest your money. Consider opening a new retail brokerage retirement account at the DELACY. They'll put your uninvested uninvested cash into a money. Market account would a great race. So it's never just sitting around. That means your money will be hard at work without you having to do with thing. That's the kind of value you'll find fidelity get more information at fidelity dot com slash cash value. A now for the legal stuff you could lose money by investing in a money market fund which is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency before investing always read the fund's Prospectus Practice for policies specific to that fund fidelity brokerage services member. NYSE SIPC. I'm Barry Welcome back to. She makes money moves. So it's great that Diana and her husband are saving but they need to figure out what buckets they're putting the money in. Diana makes more money than her husband husband and not substantially but more Ryan. Does she get more fun money for herself. Because of that what we want our couples to do is create the money plan that works for them so so we do have some couples who you know she makes seventy percent more so she contribute seventy percent more like each contribute. The percentage wise to the fun. Because that's PAT's quote fair thing to do. We have some couples where everything goes into the fund and then they have money that comes out of the you know the joint fund. That's their like their spend money. They're free three money there Whatever and then we have couples who set spending limits that And I think every couple should have like what is the amount of money that is safe if that. I don't have to tell you about whether it happens in your join. A counter happens out of your joint account and if it's like one hundred and fifty dollars let's say that's your anything below one hundred and fifty dollars you. You don't have to tell the other person that's your free thing but anything above that you should probably have a conversation. Say Hey I'm GonNa do this and then you know does a person can have a say in that or not or you know. What's the the free amount I think again the more transparency communication right? Yeah so they'll established an amount that they're each read need to spend but for Diana her mind always goes to save save. Save especially with a baby on the way. How can she spend that money or do something fun with her husband after the babies here she has to do that? That you you need those times. We are big fans of multiple savings accounts for multiple goals. So so we have some clients who have fifteen savings accounts. They're they're free. If you're being charged to charge you call and has refunded. You could set them up online but set up different and plan for plan for the fun. I'm saying okay. So if you want to date and I find put Automatically transfer one hundred dollars a month for that That's your date so you know when you're you know if the end of the month of your both like we need a date. How much is in the fund? Oh we have four hundred seventy eight or forty dollars like okay. We're GONNA think Nick Picnic Pizza and some Netflix or whatever it will determine determinate but put money in these things like or put money in the Manning Petty Fund put money if you like to splurge on shopping. We've clients shopping funds because they know retail therapies are real thing for them and then what happens. They don't plan for it. They put on their credit cards and they've credit card debt than they feel bad about it. so plan for that put two hundred dollars a month for that and then when you feel that needs need to spend and you know you look. What's in the account okay? I've got trout. Same thing with travel Plan for it in advance. I think that's the biggest thing we tell our clients rather than just put on a credit card. The credit cards not the plan the plan. It's having the money in advance. Because then that'll help you make the decisions later so dining. Her husband will have the conversation. There creates some news savings account. Still have that date night bucket and they both have money that they can spend Gilfry in their money. Buckets go on spending Diana. What about for a couple? That's earlier in their relationship. I would never get married without seeing. What's in the bank accounts? Any any debts out their credit score and an income. I think those are the big number or you should know or If you're going going to get a car to get a home together you know. What is your credit score? Because that's going to impact you and you go in. Knowing that a bad credit score can be fixed everything we do financially is fixable apple everything is fixable like bankruptcy credit card debt everything is fixable so it's not permanent just like you said and It's I always say they don't define us just like our weight doesn't define who we are financial digits. Don't define us. Would you have to be willing to go there. I think what's really important is if you're coming to the financially naked Discovery Discovery Meeting every session feeling insecure. Like okay you have. How are we going to handle that? One of my all time favorite clients have our she was Whoa was. She started with us. Thirty five thousand dollars of debt consumer debt so credit cards and things like that and Her trainer advised her and she's filing for bankruptcy and and she had to tell her boyfriend that she was living with about the bankruptcy and she was scared out of her mind. She'll he's going to hate me break up with me. Kick me out of the house all these these things and I had said to her. I said to my podcast. If you're with somebody like that and they're gonNA treat you like that. Why do you want to commit to this person longterm anyway? I mean what you're you're sharing your body and everything intimate with you. Why can't you be with someone you could trust with this and to make you feel better and take away your shame for you so? She told him she hyperventilate. It he thought she was. He's going to die she. She actually told him on Ferrick. She's like he can't throw me off the boat like and I thought it was. She finally gets the words out and he's relieved because he's he's like I thought you were dying. I know what you were going to say. And he's like it's not a big deal he's like will work. I have good credit. We can use my credit to buy the house. And how can I help you to tackle this debt. This problem like I don't want you feeling like this and it was so turns. Are you want right. There's your answer. If he kicked her off the boat. Then you know find new guy. Uh.
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"Fidelity investments. She makes money. Moose is the production of Glamour. An iheartradio I remember thinking like wow. This guy makes like a fraction of what I make and way less than probably other guys I've dated and he's been more generous with me and a few months many other men. I've dated. Who made way more money than him? I'm Samantha Mantha Bari the Editor in Chief of Glamour. And this is she makes money moves in two thousand and nineteen more women than ever ver- out earning their husbands. Having more money coming in is great for a couple bottom line flipping gender roles financially and strain relationship nation. Ship studies have found that in marriages where the woman is the main breadwinner. It can be stressful for both the husband and the wife. When in today's guest met the man who would become her husband? She made almost twice as much as he did today. The gap isn't that wide which is still out earns him mm-hmm she says. It doesn't cause tension in their relationship but it does affect the way she spends. This is her story. My name is as Diana Kelly. I am thirty seven years old and I'm a freelance writer. And a course instructor located in Long Island New York Diana started a career in publishing in two thousand and six working at print magazines and magazine websites. The landscape of media was changing quickly at the time. It seemed like another magazine was closing every month and the one that stayed in business. We're working with lower budgets and I motor staffs while I was bracing myself for a possible inevitable inevitable layoff Yeah eventually happened and in very twenty thirteen. I was like Oh for my job my fulltime media job and then I decided to see if I could be a full time freelance writer and if I even wanted to do that fulltime it was an interesting landscape at the time and I was very fortunate that I had a couple of years of doing freelance. Writing on the side under my belt she. He had some money in the bank but she need more coming in to cover her. New York City rent a monthly bills which included credit card and student loan payments. I I still had some student loans. Maybe about eight thousand or so left and little bit on a credit card and I really wasn't concerned about them. At that time I was more concerned with paying my monthly rent in Lower Manhattan which was nearly two thousand dollars a month for eight three hundred square foot apartment. It can be hard to make take that money In just a month so I was kind of concerned about making my monthly bills. I and at that point I had probably about ten thousand dollars dollars in savings may be like ten to fifteen so I was fortunate that I always was a saver. It grew up in a family. That always Kinda told me to save for a rainy day and It made me feel safe and secure to have a little bit of a cushion but I definitely did watch that cushions until down those first few months while I was building my business and I do remember having nights where I was up at night. Kind of worrying about where my paychecks were coming from when they were coming in. I say I used to stock the mailbox folks every day for checks and just getting ready to cash them and just kind of hoping. I could make this work for another few months before long. She realized realized she could definitely make a career out of freelancing in two thousand thirteen and two thousand sixteen. When I first met my husband up my career? Your buzz going very well. I actually found it that first year fulltime freelancing and twenty thirteen. I earned more than I had it. My fulltime staff editor job as was a senior online editor and that was a very satisfying feeling early on in their relationship. Diana's now husband who works in civil service for the city of New York shared how much he was earning. I think within a few months he kind of jokingly mentioned his salary and he just kind of said. Well it's on the Internet. Anybody can look it up anyway and I thought that was kind of strange. I thought I'm never I was never gonNA look up your salary or what you do for a living and that type of thing but he was probably making about fifty thousand as a base salary. I think you have potential for overtime at that point but at that point I was probably making got like ninety. Two hundred thousand. The number surprised her but it didn't bother her. I wasn't really concerned about his salary. But I definitely Kinda thought. How is somebody living in New York City in this area? You know on a salary that low and I also thought it's kind of shame that that's the salary that the city starts civil service employees at like it's almost unlivable But yeah I mean. He seemed to be okay with the salary. And so I was as well Paul. I just kind of was more focused on the relationship and just seeing how he treated me which was always very well and always like paid for dinners many times uh-huh and You know took me out and just bought lots of little things and was very sweet and I remember thinking wow. This guy makes like a fraction shen of what I make and way less than probably other guys I've dated and he's been more generous with me in a few months than many other men. I've dated. Who made way more money than him? She also understood that his salary growth and career trajectory where more stable and predictable than her own. We both have always acknowledged like his income was lower but has the longer term growth potential and like even through structured pace cows. Like he knows how much he's GonNa make next year are and if he stays on certain path he'll make X. amount five years from now and that's kind of refreshing and makes me feel secure knowing we know what his salary is going to be and with me like. We don't know what my salary is going to be. An added bonus. He was also incredibly thoughtful. I think as we we were becoming more serious than He was staying over at my apartment. I remember I was running out of As you know everything seems to run at the same time like hand soap shampoo body wash rush and so I just gave them a heads up like hey. I'm low on everything so to see. No when you jump in the shower. He went out to go actually just for punished that stuff for me which is very sweet and thoughtful and I think he bought a box of tissues like some hand soap and body wash and it came to like twenty five to thirty dollars and he was. It just floored by the brace and you kind of thinking wow like I can't believe you spend this much money all the time on all of these things. Now I see where you're running goes like you're in Manhattan. Everything thing is so expensive. At that time he was always shopping at a big box store From then on that he was just GonNa like buy two of whatever or and mic. Drop something off at my apartment. He would spend maybe eight dollars on a three pack of body washes versus me spending like fifteen on one small one in Manhattan. It's kind of even sweeter than somebody going out and gave me flowers chocolate. Somebody like going out and replenishing all of my toiletries while I'm at work and coming back and I'm like wow. That's so nice one last this thing I have to do. He's done other romantic gestures but to me. I was just made my life easier more on. She makes money moves right. After this quick break she makes money. Moves proudly sponsored by Fidelity investments it. Sam Let's play around of. Would you rather money edition would. Would you rather be forced to try for I five or have five dollars deducted from your paycheck every time you meet a new person. You don't have to make that choice but you do have to choose where you investor money consider opening new retail brokerage or retirement account at the dialyse. They'll put your uninvested cash into a money market account with a great race ace so it's never just sitting around. That means your money will be hard at work without you having to do with thing. That's the kind of value you'll find fidelity get more more information at fidelity dot com slash cash value for the legal stuff. You could lose money by investing in a money. Market Fund which is not insured or guaranteed you by the Federal Deposit Insurance Corporation or any other government agency before investing always read the fund's Prospectus for policies specific to that fund fidelity brokerage services services member. NYSE SIPC I'm Samantha. Barry.
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"Dot com everyday they sent me a little newsletter of free and cheap activities happening around the city and so since dot com the skinned dot COM yeah. There's just no shortage of like free days at museums. Pay What you wish exhibitions so that in this city in particular there's no excuse more on she makes money moves right. After this quick break she makes money. Moves is proudly sponsored by fidelity investments. I it Sam Tom. Let's play a round of would you rather money edition. Would you rather have your 401k hit one million but have no idea how the money is being invested or it never go above fifty thousand dollars investing in companies you believe in you don't have to make that choice but you do have to choose where you invest your money consider opening new retail brokerage or retirement account fidelity. They'll put your uninvested cash into a money. Market account would a great race so it's never just sitting around that means your money will be hard at work without you having to do with thing that's the kind of value you'll find at fidelity get more information at fidelity dot com slash cash value and now for the legal stuff you could lose money by investing in a money market fund which is not ensured a guaranteed by the Federal Deposit Insurance Corporation or any other government agency before investing always read the funds perspectives for policies specific to that fund fidelity brokerage services member. NYSE SIPC SIPE key. I'm very welcome back to she makes money moves another moment that struck me in Julius story was when she said and I was one serious emergency away from being completely broke. She's debt free which is grace but she doesn't have a 401k for retirement retirement savings. She doesn't have a fallback fund. Can you explain to listeners what a fallback fund or an emergency fund is. An Emergency Fund is money okay you have set aside in a dedicated savings account specifically for emergencies. This can be around three to six months worth of living expenses a stored out without at least a thousand dollars in that account and make sure it's in a savings account so that's something that's accessible when you need it if you lose your job if you need to get out of a bad ladder relationship if you have a medical incident and any other unforeseen emergency it's so important but lots of twentysomethings aren't actively planning for the future. How can we get Julie? There is a really tough to think long term when you've been scraping by short-term mode for so long and I think that's the trap crap that we need to really break free of even if we are living paycheck to paycheck even if we are paying down debt simply getting into the habit of saving being money and investing even if it's as little as five dollars a month is so important because it bills that skill set of long term thinking. She needs to start thinking about what her goals might be ten years time when she's thirty nine. What does she have to do right now to get there? She probably has an idea of what what she might want her life to look like it might be a house a might be having a kid and then start breaking down whatever is in that future that she has hopes for and start putting price tag on that future. Here's how much I actually in need to afford all of these schools in. If I'm going to actually make that happen I and not settle for anything less. I need to get started today and that'll bring urgency to the longer term thinking and it's also so important that she made those things really personal and really connected to her value system rather than what she thinks she should be doing because I think that's one of the reasons where it's really easy to defer or some of these actions naps because somebody said that I should own home but I made me don't really care about owning a home but I'm guessing there's probably something else in her future that she does need to be saving and I also recommend making them visual. I have a picture of you know that that trip. I wanted to take next year in my wallet wrapped around my cash in my credit card cards every time I go to pull out that cash or that credit card I am looking at that picture of what it is I want for my future and then I can make.
"federal deposit insurance corporation" Discussed on She Makes Money Moves
"I started my career as a reporter so I know what it's like to live paycheck paycheck to paycheck and spend money. You probably shouldn't so does today's expert for Charaabi racked up thirty thousand dollars in debt at age twenty two after climbing her way out. She spent more than a decade other women do the same. I'm furnished her OB. I'm a financial expert and the host of the so money podcast and so for news. There's so much to unpack here. Dominique had a few questions with this one really sticks out. She's on the right path but she's worry. She's going to backslide. How can she keep that from happening. I think that with a lot anyone who's grappling with emotional spending. It's not about the money it's about. There's there's some void that you're trying to fill and so- exploring that is really worth your time. Is it that you crave connection. Are you just tired. I think that you have just sort of get to terms with the underlying factors maybe a little bit of therapy here would be bad just to kind of explore how her life changed after she became a mom and how that has impacted her and her sense of self worth and her sense of purpose therapy goes a long way but I think that you know right away. What you can do is put systems in place so that you don't get tempted? Don't be on Instagram at nine o'clock at night before bed because on these accounts that we have our credit card talk to them but I'm already hooked up and I just got a press by and the computer already knows my address auto filling all of it for me like that's dangerous address so if you are an emotional spender are an impulse spender. Maybe putting some obstacles in the digital era that stop you doing very immediate and purchasing just having a little bit of having to go an extra mile an extra effort to get my purse at the credit card. I'm like forget. I don't want the shirt anyway. One of the things that I think I was getting from her story was listen. It's hard to be a mom of two. My sister has three kids under the age of six and you need need to make time for yourself but that time for yourself doesn't always need to be something that you spend money on right. There's other opportunities spending time for yourself. I get it. I'm a mom to sometimes just the quiet is like such a gift right finding little routines in your week that you can tap tap into that will help you to feel more reconnected to yourself. It doesn't involve like going out and spending money but maybe it's a free yoga class. You know it's it's morning yourself a nice warm bath every Sunday night because that's when you decided is when your husband's going to take your kids out and you're going to be able to have three hours I to yourself and if her husband's taking the kids she can't use that time to catch up on laundry. Pay The bills none of the boring stuff this time needs to bring her as much happiness. Nisa manicure our new pair shoes so she can take that by turn on some music catch-up Bunsen celebrity news on Glamour Dot Com. these are free easy ways can take the edge off emotionally. What's the easiest thing she can do to make ourselves. Feel better financially automation. This is so important for especially for people who don't trust themselves yourselves to make the right decision because they're worried about falling back into bad habits. I mean it streamlines our life. It keeps you Organiz automating the most important the things that she knows she has to accomplish financially every month getting that money out of her account to those billers automatically on time. Every month is paramount. I would also love to add into this some life insurance along the way because you now do have a family. It's really important thinking about also putting aside some for retirement. I don't know if she's on that path yet but working for the government you know maybe there's some four one k. pension or something and just automating some of these boring things. I eat your vegetables. I so then you can have dessert and knock have it come with any feelings of guilt or confusion one more on she makes money moves right. After this quick break she makes money moves is proudly sponsored by fidelity investments. I it Sam. Let's play a round of. Would you rather money addition. Which would you rather find tomorrow your true love or a suitcase with one hundred thousand dollars. You don't have to make that choice voice but you do have to choose where you invest your money. Consider opening a new retail brokerage or retirement account at the -delity. They'll put your uninvested cash into to a money market account with a great race so it's never just sitting around that means your money will be hard at work without you having to do with thing that's the kind of value you'll find at fidelity get more information at fidelity dot com slash cash value and now for the legal stuff you could lose money by investing in a money mark fund which is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency before investing always read the funds perspectives for Policies Specific due to the fund fidelity brokerage services member. NYSE SIPC. I'm Samantha Jerry. Welcome back to she makes money moves.
Banks Get Some Relief in Volcker-Rule Changes
"A couple of key banking regulators have approved changes that would ease parts of the so called Volcker rule that ruling reduce in the wake of the two thousand seven two thousand and financial crisis is aimed at reining in banks from taking risky behaviors including banning banks from trading on their own accounts some big banks complained laws were overly burdensome now the office of the comptroller of the currency in the Federal Deposit Insurance Corporation signed off on final versions of the amendments that will simplify some of the guidelines give banks more
"federal deposit insurance corporation" Discussed on Invest Like the Best
"Your client with a risk weighted approach over a reasonable horizon than say traditional sixty forty but it doesn't always work because this work meaning? The following is underperforming traditional. What do you mean underperformed well last quarter? It was three percent behind the say sixty forty which is ninety percent ninety five percent equity risk. Why because equities went straight on it so I tell this said you're doing your job? When it quote unquote underperformance because over three periods it'll deliver better answer yeah and they're not disciplined? You're not diversified right and so we do that. In long only space we also do it in if you will hedged or if you will bear market neutral space same concept on sept capturing premium but offsetting it by shorting something else so then active equity is a very different idea all right so talk through from what I can clean on the materials that I saw it sounds as though maybe we can use the biotech or some other examples there are sometimes even single stock specific models that are being built so it's not longshore Dessau spreads in value or something. It's more granular than that so describe that process that active equity process we have two approaches that we've used and actually two different portfolio offerings one of them does I never did like it but we always talked about it. As every stock has its own model see there's so much credit risk and a single stock. I don't think you can you can model with valuation but in terms of actually waiting factors is hard but we built US process back my colleagues and I was part of it twenty years ago and we have clients in the strategy today we call dynamic equity which actually rather than one size fits all the waiting's on a particular stock in the set of factors wherever they are value momentum growth with different inputs overtime time quality the weights different for different securities no securities with exactly the same weight but the way the weights are determined by commonality within larger group of securities so take all the gross stocks high growers or take all the small stocks are all the High Beta stocks and model title with your inputs. What is the optimal weighting scheme for each of those clumps will know sock is in one clump and EUCLIDEAN space? It's sitting out there somewhere so you map it into these four or five different risk if you will partitions and then use a weighting scheme which is drawing from the stock actually resides that was pretty good and even today that's still better than one-size-fits-all but other people have actually done that. I copied this to some degree so that's a one size fits all kind of away from that. The other strategy gets very deep into the mechanics within a sector or win a set of common securities. What are the fundamental drivers like? The biotech biotech is there another example that you think is interesting. Yeah I use an old example to financials. They've really had a hard time. Quad stayed with their financial sex of their portfolio in two thousand six seventy Oh this problem and my colleague George Musalia who's the other C._I._O.. Counterpart Eddie Channel I mentioned earlier is really a pioneer and what's today they call big data. I mean really is a real fundamentally oriented team but he identify and they were trying to figure out a waste to really sort between good and bad banks. I mean financial CITICORP commercial banks and one of the data sources they I thought about well. Let's value the asset portfolio. That's figure out what's the quality of the assets all of the loans in the portfolio categorically there are all kinds of loans and so they figured because we know the world well does the government entity that actually cares about that the Federal Deposit Insurance Corporation because they guarantee to some degree the solvency on behalf of the depositors well. They know a lot about the quality those loans they could either data and turns out they had at that time. I'm sure they having better data now but they had data on the delinquency rates of alone. Portfolio of commercial banks were F._D._i._C. insured meaning what percent of.
"federal deposit insurance corporation" Discussed on WHAS 840 AM
"Right. Absolutely. They'll just mentioned they heard it on art bell show. I'll send those four the free cost me like a buck to do it. And hopefully, you know, I get a certain return of people who say, well, maybe this guy's got a point. Maybe we shouldn't leave all our assets and paper. All right, good. Andrew back to the phones west of the Rockies. You're on the air with Andrew goes high. Sandiego? Yes, sir. I wanna ask you a little bit more about what would happen if the United States, you faulted on their debt? Sure, I have a friend that we argue about all the time. And he says that if worst came to work, you know, the United States government would just tell other creditors to go take a hike in my what I'd like to know what what would actually happen. You know, if you allow that as a possibility what what would be the next thing that what happened? Okay. Well, the first thing that would happen is the social security trust fund would be broke because the number one item in social security trust funds are treasury bond. So if the government defaults on its debt that social security collapses immediately not five years or seven years now. But tomorrow the next day, and then all the trust funds besides those so all the civil service employees pensions are gone all of the federal deposit insurance corporation. Charts is guard all of the every trust fund remember one hundred and seventy different ones with three trillion dollars in bonds, all of it United States debt. So three trillion would be wiped out of the money supply. And if the government defaulted on its debt, and this is the real technical point if it defaulted on its debt than technically that money is wiped out, and if you wipe three trillion out of the national money supply, a depression will ensue that we'll just rock the foundations of this nation. Well, thanks a lot. Thank you for the call center and. It's not a pretty sight default would be unprecedented. It would just be the worst thing that has ever happened in financial history. All right since we're back to that. Let me ask you this. It's not gonna be a clean ceiling hike anything. But I suspect the Republicans are going to be at least it certainly looks like they're going to attach all kinds of conditions or you look at the Republican plan are even the Republican plan calls for creating another eight hundred billion, correct. Correct. That's the Republican, please. I I do understand. Nevertheless, let's stay with the politics for a second. Okay. Let's say it is totally not palatable to the president. And he vetoes any vetos it. That's certainly a political possibility. And that would would would they let that happen? Could they be so irresponsible as to let that occur? Well, yes. Because. Yes, because the Treasury Secretary still has a couple of extraordinary options, he could technically take money and wait to be thrown in jail. I mean, technically could take that step. If you were the Treasury Secretary and. That political situation developed. What would you do? I do it. I would I would take the money you take the money. I'd take the money to pay the debt. That's right. Because first of all, I believe that they would defend their Treasury Secretary with all the lawyers that they have. And Secondly, I don't think I think that the implications of a default would be. Far worse than any personal repercussions or to my freedom or my financial affairs with the action. I've taken I would divest a trust fund against legal authority and take the money and pay the social security recipients. The treasury. No, not you aren't anymore. You were for a moment there east of the Rockies, you're on the air with Andrew Gaza. Hi, good evening, art, good evening..
"federal deposit insurance corporation" Discussed on The Tom Leykis Show
"Get your money question answered nine zero one three thousand eight six six I Fall things I, feel, strongly. About Guarding money the number one thing that really irks me Is when? People rent, money what do I mean by renting money I mean. You want to buy something and you don't. Have money so you went money at this outragous costs, and I don't think the average American. Has any idea and that includes you by the way I don't think. The average American has any idea how watch It costs to rent money so let's. Take a look there's a story that I posted on Twitter And I'm going to read. You from came from the market watch website And here, it is Listen to these numbers Americans paid banks Some One hundred four billion with a b. one, hundred four billion dollars in credit card interest and fees in the past year up eleven percent on the year and thirty five percent over the last five years this according to a personal finance, website which analyze data from the federal deposit insurance. Corporation Through March of two thousand eighteen The. Bad news says marketwatch dot com that number will likely only rise this year The Federal Reserve is forecast for interest rate hikes one every three months in, twenty, the fed has already increased interest rates twice this year to between one point seven five and two percent. And has pencilled into more quarter point moves When the, fed, raises rates which it will in June actually did in genetic Greg Credit, card debt gets more expensive because banks often pass on those higher. Rates to customers consumers with credit card debt will likely pay an additional two point two billion dollars, in interest payments because of the most recent rate hike If the fed raises rates a total of four times this year it, will create a total of one hundred ten billion dollars for Americans. Pay in credit card interest and fee collectively that is a huge amount The, people making payments on their credit cards are less likely to. Notice than those who.
"federal deposit insurance corporation" Discussed on Money For the Rest of Us
"Federal other non us central banks could no longer exchange us currency for gold and it was that point that we went on a complete fiat currency not backed by anything it was also in one thousand nine thirty three that the federal deposit insurance corporation fdic was established essentially to protect depositors in case of bank failures thousands of banks failed in the nineteen twenties in early nineteen thirties and the idea was having a central bank to stem sort of be a lender of last resort but also have deposit insurance to to stem some of the bank panics where deposits which shop winding money were hoarding their money because we're frayed to put it in the bank but we're going to see in this episode that your bank deposits are not money in the sense that holding currency is money we wanna look at some characteristics of money and see that cash bank deposits crypto currency gold pay powder all different types of money but before we do that let me pause and share some words from this week sponsors if you have a trip coming up and need to rent a car why don't you give auto slash at try they're the number one site for cheap car rentals autos last get you the best rate and two awesome ways i they searched hundreds of coupons and discount codes for all the major rental car companies to get you the lowest rate and they also applied discounts based on your membership affiliation such as aaa once you've booked your rental auto slash our lert you pay track to see if the rate drops in if it does they let you know and you can reap book and save many customers repo multiple times.
"federal deposit insurance corporation" Discussed on Rich Dad Radio Show
"I'll learn something from harry by be careful who you listen to so at melissa what's your first question fast robert our first question today robert concern rebecca and midland texas favorite duck ritz tad poor at what do you think of the gradual abolishment of cash is it real an imminent in your opinion it's already happened i may wake up and smell the roses are epa there's no cash into banks is that everything today is ashley digital the cyber monday which was bitcoin at theorem and all that but today monies digital there's no money in the bank that's why they're so terrified of there being a run on the bank because what they do is call the fractional reserve system you you deposit a dollar and the bank right but the bank will lend out ten dollars so he deposited at ten dollars another bank they'll andnow one hundred dollars there's no cash there is no cashed us with his fdic the federal deposit insurance corporation that in case there was a run on the bank in the america's two hundred fifty thousand dollars so cameron i don't keep anything above two hundred fifty thousand in a bank because as the insurance line on it now the problem with bitcoin is if you lose it you lost it there's no by going to back you up the same as goal if you lose it does no government backing you up so cash has its advantages and disadvantages but there is no cash and the system we are cashless i mean i use my credit card more than cash and elements can yeah i mean he tried pulling a couple of thousand dollars out of a bank today they give you the third degree they won know why you're doing it they want proof that it's crazy cannot get your own cash out of a bank these days airlines i we travel a lot on airlines airlines do not accept cash it's got to be credit card if you're going to buy some food online does digital money i'm doug on his cyber money get all the differences and i i was just in in estonia doing a women's event estonia they do not use cash everything is credit card and china china does not use cash america so far behind the.
"federal deposit insurance corporation" Discussed on Listen Money Matters
"Yeah it's interesting 'cause i haven't looked at the book cut for a little bit but i don't remember action writer on it you mostly here never opener the unbacked kings really important i am glad you raised it um we didn't actually talk about too much but i wish we had so this is good there are i think the latest numbers and they come from the fdic the federal deposit insurance corporation have that seven percent of american adults don't have bank accounts seven percent right and so that seems pretty small and then people say well it's not a big deal at just talk about you know issues with people who do have bank accounts of you like twenty million people or something and so people will jets a lot of people and it turns out that if you look at say folks who are earn under thirty thousand dollars but rather than all erika i think for the rate of being on bank to something like twenty percent so it can be pretty high in sulphur emissions so what can you do i sit with some of the cool stuff that's happening is your developing simple ideas like but you know prepaid debit cards you can do a lot of stuff on a debit card but prepay debt or get your income there get your salary there um you know create various aps said connect to that so a lot of folks are doing something like that instead of having a traditional relationship with the bank.
"federal deposit insurance corporation" Discussed on AM 1300 Business Radio KKOL
"What's going on with pretty man anthony mak fannie mae and freddie mac or get that right they also want to bar the fdi see oversight of what's called the levin will for the banks what happens on how do you wing down a bank that's going under the want to remove that power from the federal deposit insurance corporation the fda see they want to remove that so that banks winding down are not going to have the kind of oversight they feel that that will free up small banks and credit unions to make more loans and be free from a lot of the regulations they wanted to change the bank stress tests the stressed has were introduced by tightening under the obama administration the stress test were those things which looked at the banks and ask them to do an evaluation if the economy plunged a certain amount if a pledge worse than that of a plunge worse than there could the banks survive for kind of cap oh was required to meet the worst scenario the want to reduce those test do want to reduce the durbin amendment that's the amendment to doddfrank capped the fees that could be charged on debit and credit cards those are the fees the the merchants can charge when they're handling a debit or actually the fees that the banks can charge merchants.