The Jackal

9 Reasons to Short FirstFed Financial

FED is a joke. My parents have deposits with them. Out of curiosity called customer service at FED to ask them if they were on firm financial footing. The service rep stated that everything was find with FED (yeah right). I asked about FDIC insurance, the rep started choking up and said that all deposits were insured for over 100K....I told her that I thought the FDIC insurance covered for up to 100K....she said "oh, yeah its for over and under 100K". The reps answers did not instill too much confidence. Needless to say, I have asked my parents to switch banks. I could see a day in the not to distant future where bank depositors are lining up at FED branches trying to get their money.......a run on the bank. FED is cooked.