Reflections how the Fdic really Insures our Deposits


On September 28, 2007, NetBank, Alpharetta, GA was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All insured depositors are now customers of ING Direct Bank, member FDIC. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled information which should answer many of your questions.

I never imagined that the FDIC could just shut down an institution, forward accounts to a new bank including all identifying information, etc to a third party. The bank that was closed was “Netbank”, and everything was transferred to ING Direct a bank owned by millionaires in the Netherlands. These are not the days of the Saving’s and Loan debacle.

This is the first time in over 30 years that the Canadian Dollar is worth more than the American dollar. All over the world the dollar is being hit with a downward spiral that never exists. The only country where the dollar is still worth good money is in China as they haven’t changed their currency exchange rate in over 50 years, and refuse to still.

Now the FDIC who is supposed to “”INSURE”” our deposits, has stated they do not have to give public notice before shutting down a bank, and can just randomly assign your account to another bank, this one happens to be Overseas in the Netherlands. So not only are businesses taking out money and jobs out of America, but the FDIC a branch of the government is now taking our money out of American accounts and putting them in Overseas accounts. Undoubtedly, this has part to do with the slide of the dollar, and investing it overseas accounts, keeps the money ”more safe”

As you read the ‘note to account holders above’ you will notice the second paragraph that “The FDIC has assembled useful information regarding your relationship with this institution.”. It all sounds like violation of personal rights to find information again under the umbrella of the patriot act.

I’m appalled that our government says they can close my account with no public notice before hand, and then turns accounts over to an overseas bank, and then states they’ve learned a lot about us through this information. Even if you aren’t or haven’t been a Netbank account holder, you should be very aware and afraid of these types of closures happening suddenly and tying up accounts and funds for weeks maybe months. It seems like this has BUSH’s name written all over it for whatever financial gain there may be for him and his family.

To summarize, The FDIC and our government is so worried about our US Dollar that they are selling banks to overseas Banks which can guarantee to keep the Dollar worth a Dollar, at least within the USA. The FDIC, apparently is part of the patriot act where they can seize personal information through these accounts in order to seize private information on a random basis. Yet the interesting part is the stock market is at an all time high, while the US Dollar is at an all time low. The USA is supposed to be the Leader of the world, while our Dollar flounders in depths previously unknown.

Americans have seemed to let civil liberties be taken away in the name of safety. You now have to not only take computers out of your bags at airports, but cameras, camcorders, Ipods/MP3 players, and shoes.

Now are we willing to let our civil liberties be destroyed while they take our
banking information and sell it to overseas banking institutions while the government explores all personal information in each person’s account.

It’s time for action. Unfortunately, neither party seems to be able or willing to take that kind of action.

I’m sick of people saying if “you don’t like it move”, while the fact is NO, NONE, ZERO other countries in the world will let Americans move to their country and just begin working. The only way is having 100,000 to millions of dollars to invest in their countries. Recently an advertisement for the Country of GEORGIA, formerly part of the Soviet Union invites people and businesses to come there. When you get the details, you pay almost 70% of your income to taxes, social taxes, etc which is no bargain.

It’s time for America to be America again. 9/11 was a tragedy, a severe one at that, however, the far reaching implications are still growing, and people are so busy going through their everyday lives, that they can’t be bothered with standing up for their personal rights and freedoms.