Official says Wisconsin banks safe
MADISON, Wis. (AP) — A banking industry expert says consumers shouldn’t be concerned about the stability of Wisconsin banks.
Wisconsin Bankers Association president Kurt Bauer says a couple of factors ensure banks here will not follow a fate similar to IndyMac Bancorp in California. The Federal Deposit Insurance Corporation has taken control of the failed IndyMac.
Bauer says Wisconsin banks didn’t participate in risky mortgage lending as IndyMac had. Also, he says Wisconsin’s soft housing market isn’t as volatile as the market in California.
Bauer says it was „incredibly irresponsible“ for U.S. Senator Charles Schumer to publicly question IndyMac’s viability, causing alarm among depositors.
About 97 percent of Wisconsin’s 310 banks are members of the Wisconsin Bankers Association, an industry lobby organization.
Jul 15, 2008 at 10:39 a.m.
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Who are you referring to Tnimmo?
Jul 15, 2008 at 10:15 a.m.
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Cuz all rich people are fake right...idiot
Jul 15, 2008 at 9:28 a.m.
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It's the ripple effect that worries me...what happens in CA usually works it way across the country..Also when I see the words "industry expert" and "industry lobby organization", I tend to not believe..jmo
Jul 15, 2008 at 9:13 a.m.
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Maybe I just don't get it, but what does being a democrat have to do with it?
Jul 15, 2008 at 8:46 a.m.
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nowind,
You would think it's a problem if you go to your bank, and there is no cash to give out. IndyMac customers are waiting in line for hours trying to get their money out, and some are being told to come back days later when more cash comes in. Their on-line system is also down.
Jul 15, 2008 at 8:36 a.m.
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Schumer is a Democrat. That was curiously left out.
Jul 15, 2008 at 8:33 a.m.
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Yea, wouldn't it be nice to have too much money?
Wait, I don't want fake friends. I will still poor.
Jul 15, 2008 at 7:49 a.m.
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Only the rich need to worry about there banks.
I was shocked to hear how many folks in CA were in trouble because they had more than $100,000 in the one bank. FDIC Insures up to $100,000 per account. I sure wish I had that problem.
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