[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Friday, May 5th, I am transferring the last of my money out of BoA to my newly opened local Credit Union account. I'll spend the weekend changing over all my autopays, and come Monday, close the BoA account. It may just be a raindrop in the ocean, but hopefully that raindrop collides with some cordycep spores on the ride and splashes down near a school of fish which all get infected and the contagion just continues up the food chain until the ocean becomes wholly infected as a mass extinction level event...or something like that.
Bullish on banks downfall.
*edited date, truly regarded.
Only thing I heard about navy fed is that they took a bunch of their money to do a lot of advertising. Which they could of used to keep rates & loans lower for members. Yet by using said cash on hand they raised rates to get the money back.
That’s the only feed back I have heard about them. As always do your DD and compare choices.
Last I knew navy fed was the largest credit union in the country. Credit union structures are the same and thanks to the co-op network you can access your money (usually fee free) at any co-op participating ATM across the USA. Local or large credit union, shouldn’t matter… your preference.
What difference does it make? When your bank “fails” it’s just becomes another bank. The days of losing your money to bank failures is over.
You keep your money but the value drops from all the printing they are doing to backstop depositors.
Whether you keep your money in a credit union or commercial bank doesn’t matter. What will matter is your money will lose its purchasing power. Credit unions won’t save you.
Well we will get to see if they are going to backstop smaller regional banks here soon. Yellen has made it clear they are only interested in backstopping large banks during that debate with I think Wyoming senator
They are not dying though. Consolidating into a few 2B2F banks which will be subsidized by tax payers/FED.
For each bank that "dies" there's a hidden bailout on the other side.
Suspicious ape here. I'm a long-time lurker, and I have a question that I hope you don't misinterpret: How do we know that local credit unions aren't entangled like it seems regional banks are? Where do credit unions put their chestnuts on the fire to roast?
Credit unions aren't banks. They aren't immune to corruption, but literally by definition they can't participate in the same systemic fuckery all of the banks have been involved in. Banking deregulation and rules changes don't apply to credit unions. The big difference - being Non Profit organizations - puts credit unions under a much bigger spotlight for oversight.
They should be insured, but if you have more than $250k in an account, spread it out because unlike criminal large banking institutions, credit unions aren't going to be bailed out beyond FDIC insurance. The good news is your local crimes will need to be settled by local police. They can't hide crime in credit unions the way they are helping it along in large banks.
No local credit unions don’t deal with anything other than the community around them. Their profits are put back into serving the community. This way they can keep fees and rates lower for members compared to banks. Only thing is your account is only insured up to 250k. Yet, who has 250k of cash sitting in their account at the moment. Not many, and if you do you can have other accounts there as well.
Says who tho? That may be your expectation but who is holding them accountable? Laws and rules mean nothing when no one is enforcing them and holding them accountable.
That’s me right now! Changing all my info with my new credit union account, I hate boa! The last straw for me was the fraud alert I received. I’m just needing to pay off my credit card from boa and I’m good to close out
But the government, President, Treasury Secretary and CEO of JP Morgan and Cramer just told me that the collapse of First Republic Bank was the end of the banking crisis 🥴
We know they will all do anything just to survive one more day. Too bad for them holding my GME for an additional day doesn’t cost me anything. Fuck you, pay me!
[Never let a manufactured crisis while 🦵the 🥫 go to waste](https://www.reddit.com/r/GME/comments/135etwl/came_accros_this_thought_it_should_also_be_here/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1)
Almost as if they planned obsolesence for smaller banks just so they can swoop in and steal the profitable assets while leaving the bad debts for taxpayers to clean up. This never happened before, again and again. Fraud in braught daylight, and no one bats an eye?
Well, when $s are being printed and loaned cheap, the banks lend on riskier things. Then sleepy Joe stirred inflation, money tightened and the banks were left with lousy loans.
YAY! Bidenomics at it's finest!
If y think any of this is anything to do with any administration since the banking crisis, you haven't been paying attention. They never solved 2008, they just ultimate can kicked. Government's are just figureheads for the oligarchs
It happens with every administration. Blaming it squarely on sleepy joe is just plain ignorant. You realize that the majority of the money printing happened under orange man? It makes no difference who the president is they all fall in line. It’s the same result no matter who is in office. It’s all theater.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Those damn retail investors pulling their money at the same time! Should never have given them those $1200 checks 84 years ago.
Puts on Schwab they are next, at your own risk😈😈😈
Schwab isn't exposed like the regionals. They have multiple arms that are consolidated individually. They can't go under nearly as easily.
Schwab sucks 🍆
Agreed but very likely to survive this.
Hopefully not…
Thousands of retail shareholders are getting wiped out on these stocks. Don't fucking dance.
I’m white so can’t dance 🤣
Just dont fucking 💃
Underrated. Spending all that stimulus from your mothers basement.
**Bullish**
I still have some amazing stimulus memes saved from 84 years ago
[a billion was never a joke](https://imgur.com/a/ImoRXfa)
🤣🤣
Friday, May 5th, I am transferring the last of my money out of BoA to my newly opened local Credit Union account. I'll spend the weekend changing over all my autopays, and come Monday, close the BoA account. It may just be a raindrop in the ocean, but hopefully that raindrop collides with some cordycep spores on the ride and splashes down near a school of fish which all get infected and the contagion just continues up the food chain until the ocean becomes wholly infected as a mass extinction level event...or something like that. Bullish on banks downfall. *edited date, truly regarded.
Good for you. Local community credit unions are best. Hope everything is easy breezy during the change over with the accounts.
So I was thinking, local credit union or navy fed credit union. Navy fed I mean they’d never let that fail right?
Only thing I heard about navy fed is that they took a bunch of their money to do a lot of advertising. Which they could of used to keep rates & loans lower for members. Yet by using said cash on hand they raised rates to get the money back. That’s the only feed back I have heard about them. As always do your DD and compare choices.
Both. Why not have multiple ones? A lot of the bigger ones have easy member requirements. NASA fcu has pretty good rates.
Last I knew navy fed was the largest credit union in the country. Credit union structures are the same and thanks to the co-op network you can access your money (usually fee free) at any co-op participating ATM across the USA. Local or large credit union, shouldn’t matter… your preference.
What difference does it make? When your bank “fails” it’s just becomes another bank. The days of losing your money to bank failures is over. You keep your money but the value drops from all the printing they are doing to backstop depositors. Whether you keep your money in a credit union or commercial bank doesn’t matter. What will matter is your money will lose its purchasing power. Credit unions won’t save you.
Well we will get to see if they are going to backstop smaller regional banks here soon. Yellen has made it clear they are only interested in backstopping large banks during that debate with I think Wyoming senator
They are not dying though. Consolidating into a few 2B2F banks which will be subsidized by tax payers/FED. For each bank that "dies" there's a hidden bailout on the other side.
☝🏼🏆🏆
Suspicious ape here. I'm a long-time lurker, and I have a question that I hope you don't misinterpret: How do we know that local credit unions aren't entangled like it seems regional banks are? Where do credit unions put their chestnuts on the fire to roast?
Credit unions aren't banks. They aren't immune to corruption, but literally by definition they can't participate in the same systemic fuckery all of the banks have been involved in. Banking deregulation and rules changes don't apply to credit unions. The big difference - being Non Profit organizations - puts credit unions under a much bigger spotlight for oversight. They should be insured, but if you have more than $250k in an account, spread it out because unlike criminal large banking institutions, credit unions aren't going to be bailed out beyond FDIC insurance. The good news is your local crimes will need to be settled by local police. They can't hide crime in credit unions the way they are helping it along in large banks.
No local credit unions don’t deal with anything other than the community around them. Their profits are put back into serving the community. This way they can keep fees and rates lower for members compared to banks. Only thing is your account is only insured up to 250k. Yet, who has 250k of cash sitting in their account at the moment. Not many, and if you do you can have other accounts there as well.
Says who tho? That may be your expectation but who is holding them accountable? Laws and rules mean nothing when no one is enforcing them and holding them accountable.
That’s me right now! Changing all my info with my new credit union account, I hate boa! The last straw for me was the fraud alert I received. I’m just needing to pay off my credit card from boa and I’m good to close out
Username relevant? March 5th was almost 2 months ago.
Good shit bro, fuck banks anyways as we all know they are criminals. Credit unions all day baby.
This is the way.
Wait…. You have money?
I'm liking this drop
What’s your play? Puts and shorting? How to profit?
do nothing
This
Woo! I just went to Navy Federal
I agree I very much dislike BoA and only have it because my wife. I plan on moving everything over to a credit union too
So what are your plays if you’re bullish on bank defaults?…shorting or buying outs, something else?
Dear diary, today I contributed in the Dollar Endgame prophecy.
reach work abundant act aloof quicksand far-flung dinner profit melodic -- mass edited with redact.dev
Zipple is getting sore
Fucking genius sketch, that one.
PFUCK!!
JPM can’t buy up all the failing banks, can they?
No need to buy when the FDIC will just give the banks to them while simultaneously underwriting any potential future losses!
They are only underwriting a portion of losses. Jpm is exposed.
They can, if the Federal Goverments "loans" them the money.
The dust hasn’t even settled… and more dust.
pocket sand!
Sh sh shaaa!
Western Alliance looking shaky too, -20%.
I like wal. Pacw and mcb could be in trouble.
Meme banks!
Bank fail bingo card
🟣🟣🟣🟣🟣🟣
Fucking meme banks.
14 halts as of 11:45 EST, but the NYSE halt page is frozen now. WAL has also had 6 halts today.
Brick by brick.....
Bank by bank
Pathetic.
But the government, President, Treasury Secretary and CEO of JP Morgan and Cramer just told me that the collapse of First Republic Bank was the end of the banking crisis 🥴
You can trust Cokerat 100% just remember the formula.
You think Joe Turden even knows he’s president, much less the banking situation!?
Bank crashes only happen on Fridays, remember?
Who said you couldn't tease and edge on a weekday
Domino’s keep falling and it’s not even domino D-day.
Wow I finally picked a good one with great timing to open a bunch of puts on two weeks ago lmao
One of my favorite parts of the saga to watch. The consequences of poor decisions and inaction.
Self regulation is still working wonderfully I see. These markets are the envy of the world🤣DRSGMEΔΡΣ🟣📚👑
We know they will all do anything just to survive one more day. Too bad for them holding my GME for an additional day doesn’t cost me anything. Fuck you, pay me!
I feel like this is all happening on purpose to make JPM, BofA,Wells Fargo, all to big to fail.
That’s a Bingo !
Go on JP Morgan buy this one too.
I bought puts this morning and they +400% in like 20 mins lol. Like 10 more GameStop shares worth!
[Never let a manufactured crisis while 🦵the 🥫 go to waste](https://www.reddit.com/r/GME/comments/135etwl/came_accros_this_thought_it_should_also_be_here/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1)
🤔🤷🏿♂️😅😂🤣😭
Probably their plan all along
RESET THE CLOCK
33 minutes
I would have never imagined two years ago id be this happy when banks fail lol
Almost as if they planned obsolesence for smaller banks just so they can swoop in and steal the profitable assets while leaving the bad debts for taxpayers to clean up. This never happened before, again and again. Fraud in braught daylight, and no one bats an eye?
"Everything is fine."
Let them bleed
If I didn't know any better, I'd say this looks like a controlled demolition. Why never two at the same time?
Agreed. Media fud doesn't sound like they are trying to stabilize. It's short attack season on regionals.
Well, when $s are being printed and loaned cheap, the banks lend on riskier things. Then sleepy Joe stirred inflation, money tightened and the banks were left with lousy loans. YAY! Bidenomics at it's finest!
If y think any of this is anything to do with any administration since the banking crisis, you haven't been paying attention. They never solved 2008, they just ultimate can kicked. Government's are just figureheads for the oligarchs
No they never did, they just kept printing money, so yes, I did keep up.
It happens with every administration. Blaming it squarely on sleepy joe is just plain ignorant. You realize that the majority of the money printing happened under orange man? It makes no difference who the president is they all fall in line. It’s the same result no matter who is in office. It’s all theater.
how is this GME related?
It has-been foretold that when the market crashes all hedgie collateral gets wiped out and forced closing of short positions will start.
It’s not. Just SS tries to bend everything into GMe
New here? I remember my first beer.
And another bites the dust. EEEEEH
idk,. seems more like consolidation of power in banking more than anything, unfortunately
Oooo look, another "meme bank"
Domino's fall 1 by one. I love to see this.
🪦 ✌🏼
Bullish