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Anyone "invested" in a Federal Savings 8.85% CD?
06-11-2007, 12:59 PM
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#1
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,853
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Anyone "invested" in a Federal Savings 8.85% CD?
[I tried a keyword search but the software seems to interpret "Federal Savings" as a search for the words "federal" and "savings". Worthless... so let me know if this has already been discussed.]
Apparently Federal Savings LLC has taken at least $2M in deposits for their 8.85% "term certificates" while managing to avoid disclosing that they're not a bank and that these are not FDIC-insured deposits.
Federal calls themselves "the unbank" and by golly they're right. Now they have until mid-August to straighten out their books and return the money or the owner may find him self "unfree"...
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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06-11-2007, 01:49 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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__________________
- Hurry! to the cliffs of insanity!
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06-11-2007, 01:55 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,682
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 Quote:
Originally Posted by Nords
[I tried a keyword search but the software seems to interpret "Federal Savings" as a search for the words "federal" and "savings". Worthless... so let me know if this has already been discussed.]
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Try searching for "federal savings"
WITH the quotes
TJ
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06-11-2007, 02:08 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 49,827
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Quote:
Originally Posted by teejayevans
Try searching for "federal savings"
WITH the quotes
TJ
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TJ,
That's what Nords did and, as he stated, the software interprets the quote as a search for two separate words rather than as a search for the phrase "federal savings".
Point is, the ability to search for a particular phrase is a function we'd like to see improved on vBulletin - if possible.
__________________
Numbers is hard
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06-11-2007, 02:20 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
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While waiting for that improvement, you can do something like this in google:
federal savings site: http://www.early-retirement.org/forums
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06-11-2007, 02:26 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 49,827
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Good one, Sam. Thanks.
__________________
Numbers is hard
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06-11-2007, 04:35 PM
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#7
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,853
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Quote:
Originally Posted by Sam
While waiting for that improvement, you can do something like this in google:
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Good point, thanks!
vBulletin could probably scrap their whole "search" feature in favor of a Google button. I remember William Bernstein had something like that on his site.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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08-28-2007, 05:39 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by Nords
[I tried a keyword search but the software seems to interpret "Federal Savings" as a search for the words "federal" and "savings". Worthless... so let me know if this has already been discussed.]
Apparently Federal Savings LLC has taken at least $2M in deposits for their 8.85% "term certificates" while managing to avoid disclosing that they're not a bank and that these are not FDIC-insured deposits.
Federal calls themselves "the unbank" and by golly they're right. Now they have until mid-August to straighten out their books and return the money or the owner may find him self "unfree"...
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"...owner may find himself "unfree".."
In other words, he will be FIREd. He will be retired early and will not have to worry about FI because there will be no expenses such as housing, food, health benefits, travel, taxes, and all the sex he can stand. 
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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