Blank look.

[ysobelle]

I did no business this weekend. None. Well, I got a payment for a corset, but that went to paying my manager. So, no money. Nothing to deposit.

But that's okay, because my bank has apparently gone belly-up and been sold.

I was out getting the new Treo-- I have it now, so that's good-- and while sitting and waiting in my car, I was thinking, "A run on the bank," they said on the news. That's a phrase I've heard before. In documentaries on the Great Depression. I never, never thought I would ever hear those words used in current events.

I make luxury goods. I am self-employed.

I am terrified.

Comments

[transversecity.livejournal.com]

wtf? wtf? WTF??

[transversecity.livejournal.com]

That being said...I have to imagine your account was covered by the FDIC.

[ysobelle.livejournal.com]

Yes. But that wasn't so much the point as "OHMYG-DMYBANKHASFAILED!"

This happened to my grandparents. How in the hell has it happened to me and mine?

[i-am-entropy.livejournal.com]

The FDIC coverage applies if the bank actually goes out of business. If another bank buys it, nothing happens.

[ysobelle.livejournal.com]

The fact that they were that fucked up, though, is highly unnerving.

And I think the "Run on the bank" comment was about...was it WaMu? I can't remember.

[wednesday42.livejournal.com]

I hear you. Working in the live entertainment industry - something considered a "luxury" no matter how one slices it - I've been keeping a running tally of what marketable skills I've got that can translate to other venues.

[ysobelle.livejournal.com]

I don't know what the hell I'd do, really. I mean, I'm picking up hours at the jewelry store where I used to work, but again, that's more luxury goods.

Yay, artsy types!

[wednesday42.livejournal.com]

Yeppers. Nothing like staring down the barrel of a soulless job to make ends meet. x-P

[ysobelle.livejournal.com]

Sigh.

At least I really LIKE the stuff we have at the store. And I know a lot about it. That's good. Still. It's not working for myself. And it means I'm in even more of a time crunch for making stock.

[laurensa.livejournal.com]

My husband is a DJ. Yeah, being on the radio doesn't train you for a whole lotta other skills--and when the economy goes belly up, radio stations start looking for places to trim. (You can blame relaxed FCC rules and satellite radio for the lack of local radio, BTW.)

You're not the only one scared s***less. If he loses his job, we are well and truly screwed, within two weeks.

My bank got bought out this morning, too.

[tempest-gypsy.livejournal.com]

Dito all that. Thank Goddess, I'm a backstage person. YAY for marketable skills!

[ysobelle.livejournal.com]

Ever looked into corporate events?

[tempest-gypsy.livejournal.com]

I've got a friend who runs a company that does corporate events all over the country. He's told me I've pretty much got a job whenever I'm ready to go travel.

[silverstah.livejournal.com]

Your deposit accounts SHOULD be covered by FDIC. That said, Wachovia (my bank) seems to have been bought by CitiGroup, so I'm sincerely thinking about withdrawing everything and moving to a different bank. One that DIDN'T muck about in this mortgage nonsense. (a local bank we use for the business)

*hugs* I don't know what to tell you sweetie - I do know that everyone in your industry is scared shitless. I really wish I could say something pithy to make it all better, but... it's scary shit. :(

[ysobelle.livejournal.com]

Yup. Wachovia. I spent all last week thinking, "Oh, no news from them, they're fine."

Ha.

We may not see any changes, but...gah. It's just frightening.

[silverstah.livejournal.com]

*nod* They're saying that everything is business as usual - and lord knows that FDIC will cover what *I* have in deposit accounts (*snort*) - but it's still terrifying.

Stuff like this... well, it's just not supposed to HAPPEN.

[ysobelle.livejournal.com]

Be glad you got out when you did-- people will ALWAYS need lawyers. Corsets, not so much.

[silverstah.livejournal.com]

*nod* I am VERY glad I got out when I did, honestly. There is a lot about it I miss, but it was the right choice for my family and my sanity. I hate that the economy has taken such a beating just when you're getting off the ground - there needs to be more people wearing your beautiful corsets!!

[elionwyr.livejournal.com]

*poke*
We should talk. :)

[optimistprime.livejournal.com]

The big headline today said that "Wachovia was not failing", so that's a good thing.

Still trying to wrap my head around how things got this way though... I guess the "Regan years" of easy money and free credit have caught up to us. (Did you know that the Regan years are now being taught in HS American History? I feel so old...)

::hugs::

[ysobelle.livejournal.com]

Wow. Yeah, THAT'LL age your brain. Ugh!

[laurensa.livejournal.com]

Wachovia is my bank, too. Guess it'll be a group screw.

[ysobelle.livejournal.com]

Someone bring a video camera, and we'll all be rich! Oh, wait....

[i-am-entropy.livejournal.com]

I see this is a double comment...oops and sorry.

[istilana.livejournal.com]

I was with Washington Mutuial. I knew it was comming, but working 7 days a week, almost 90 hours total, did not leave me time to move my account. That will be taken care of on Monday.

I would put money on the fact everyone in the Ren Faire industry feels the same exact way.

[ysobelle.livejournal.com]

I know. Gah. I just feel so...screwed. Yes, I think this is screwed. And not in a good way.

[meekay.livejournal.com]

AT&T won't repair or replace my Treo for less than $450, and I'm still under contract until February.

But it looks like Palm will do a refurb exchange for $225, so that may be my best bet.

[ysobelle.livejournal.com]

Jesus! I only pay $50 if they have to replace mine! And today was free, thank G-d.

[meekay.livejournal.com]

$50 from who?

The problem is that a cracked screen counts as physical damage, so it's not covered by warranty.

[fondor.livejournal.com]

Yso has the loss and damage insurance on her account. Most of her other replacements have been equipment failures. At&t may not offer the same l&d insurance for pda's.

[i-am-entropy.livejournal.com]

I am not self promoting but seriously, go to Citizens Bank. We're not in the news, we didn't do sub-prime mortgages, we have a AA rating in the S&P and are the 5th largest bank in the US, owned by the 3rd largest bank in the world.

We're not going anywhere.

Unless the Royal Bank of Scotland gets tired of owning us, which is bloody unlikely.

[ysobelle.livejournal.com]

Maybe I'll just more to Scotland. That wouldn't suck.

[fondor.livejournal.com]

This is very frightening. I've been doing a bunch of research about the behemoth I'm banking with and so far so good. (BOA). They seem to have sat back, and thought, Oh, I'd like to buy that bank and that bank and that bank. They are also benefitting from the 700 billion dollar bailout quite a bit after they bought Countrywide. They are scum, but smart scum.