Plan B Part II $

More wisdom from Isha

"P.S. You may want to take time this week to find a "safe bank" which is one that did not invest heavily in housing-backed securities and/or has a high cash reserve.

These days, it's taking two business days or more to move money around. Depending on what you need to do, signed original documents are needed and even a notary prolonging the movement of money to 10 business days or more.

Some banking alternatives to research include: ING Direct, Washington Mutual, USAA Federal Reserve Bank, and city, state or federal credit unions (except Pentagon Federal). Also, diversify your assets so if money doesn't convert as fast as you need, you have a buffer. Do what it takes to get your credit status up to par to include paying off high interest debt.

Probably also want to call or e-mail your Congress person and address the $700 Billion Financial Bailout the President is looking to get approved (see link below).
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[This] plan would boost the public debt limit, now $10.6 trillion, to $11.3 trillion while giving the Treasury Secretary Henry M. Paulson complete control and limited accountability as to how the money is spent.

The truth of the matter is that there are only two legitimate ways to make money in any economy: increase income or assets or decrease liabilities and expenses. This plan leans towards increasing income but does not take into consideration how top-heavy we are on expenses and liabilities w/little to no assets to support. We're still at war, natural disasters have set cities and states back in terms of revenue, and major banks are in debt to their ears. The number of unemployed is climbing toward 10 million as companies seek to cut costs as well. All it takes is a series of natural disasters to hit or worse, a war to occur to further put the U.S. in the red.

Taking $700 Billion to bailout banks through a series of "creative" sales of fake assets is equivalent to emptying your savings account and going to Las Vegas or taking your last paycheck and playing Lotto in every state with a high jackpot. Return on investment is not guaranteed... So guess what, you better have a Plan B!"

Stay in the know.

ie
http://www.latimes.com/news/printedition/front/la-na-wallstreet21-2008sep21,0,4214064.story?track=rss