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<blockquote data-quote="Nancy" data-source="post: 200541" data-attributes="member: 59"><p>I agree with everyone's sentiments.</p><p></p><p>Marcie, Suze Orman whom I have come to respect a great deal has told everyone not to panic and take their money out and put it in a matress, but to transfer it into an FDIC insured account. Many mutual funds are FDIC insured, call your broker if you have any doubts about your investments. I know I was panicking also since my husband has always been self employed and we have no retirement fund other than what we have saved ourselves. And of course it's all in Wachovia, but I have been told that the banking side of Wachovia is seperate from the investment side and the investment side is sound???? Do I believe that, I don't know.</p><p></p><p>I am trying not to panic. We did all the things Suze said to do this past year. We paid down all our credit cards, we carry no balances, we are in a fixed rate mortgage and only have five more years to go, we have not made any large purchases this year and don't intend to, and we are making sure all our funds are FDIC insured.</p><p></p><p>I agree that no one is happy about this rescue bill and it can't possibly do all the things we want it to, but something did need to pass and quickly. It's a darn shame it ever came to this and I would love to see all those predatory lenders who convinced people to get into risky loans and investments end up in jail and bankrupt themselves.</p><p></p><p>Nancy</p></blockquote><p></p>
[QUOTE="Nancy, post: 200541, member: 59"] I agree with everyone's sentiments. Marcie, Suze Orman whom I have come to respect a great deal has told everyone not to panic and take their money out and put it in a matress, but to transfer it into an FDIC insured account. Many mutual funds are FDIC insured, call your broker if you have any doubts about your investments. I know I was panicking also since my husband has always been self employed and we have no retirement fund other than what we have saved ourselves. And of course it's all in Wachovia, but I have been told that the banking side of Wachovia is seperate from the investment side and the investment side is sound???? Do I believe that, I don't know. I am trying not to panic. We did all the things Suze said to do this past year. We paid down all our credit cards, we carry no balances, we are in a fixed rate mortgage and only have five more years to go, we have not made any large purchases this year and don't intend to, and we are making sure all our funds are FDIC insured. I agree that no one is happy about this rescue bill and it can't possibly do all the things we want it to, but something did need to pass and quickly. It's a darn shame it ever came to this and I would love to see all those predatory lenders who convinced people to get into risky loans and investments end up in jail and bankrupt themselves. Nancy [/QUOTE]
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