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Corus Bank Short Term CDs on the move again
07-20-2005, 09:10 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,329
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Corus Bank Short Term CDs on the move again
Not bad for parking the cash short term.
6 months 3.93%
12 months 4.21%
http://www.corusbank.com/
__________________
I look to the present moment because that's where I live my life.
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Re: Corus Bank Short Term CDs on the move again
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07-20-2005, 10:50 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Dec 2003
Posts: 4,459
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Re: Corus Bank Short Term CDs on the move again
How does a bank make money when they pay more on the short end than they can get on the long end? At those rates, I'd feel like I was making a bet on whether the FDIC will really pay off on their insurance claims. Do you already bank with these guys, MJ?
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 06:23 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2002
Posts: 3,875
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Re: Corus Bank Short Term CDs on the move again
 Quote:
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Originally Posted by wabmester
How does a bank make money when they pay more on the short end than they can get on the long end?* * At those rates, I'd feel like I was making a bet on whether the FDIC will really pay off on their insurance claims.* *Do you already bank with these guys, MJ?
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Banks are sometimes wrong (about lots of things), but if you think they
are offering attractive rates because they want to be nice, or they are just stupid, you are way off. I suspect the amount of thought and research
going into the establishment of these rates is significant. I will admit
that sometimes I wonder how banks can make it paying out what they do
on invested money, vs. what they are collecting in mortgages and car loans.
But hey, that's their problem. Mine is to take advantage of what is out there.
It's like a chess game. They make a move and then I make one.
JG
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 06:52 AM
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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: Mar 2003
Posts: 18,085
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Re: Corus Bank Short Term CDs on the move again
Corus is primarily a commercial construction loan lender. That means that most of their loans are floating rate or relatively short term (couple of years), and they get high rates on their loans. Since they seem to have a very fast growing business, they are raising deposit money by paying up. The seem to be able to afford to pay up because they earn a lot of interest on their loans. Will they blow up? Depends. Construction lending is inherently riskier than, say, conservatively underwritten commercial mortgages. However, if they are doing it right, they should be solvent in all but the most severe commercial real estate crash, since they are pretty well capitalized. If a really bad commercial RE crash happened, their stock would get trashed, though.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 09:14 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,329
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Re: Corus Bank Short Term CDs on the move again
Quote:
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Originally Posted by wabmester
Do you already bank with these guys, MJ?
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Yes. I have several CDs.
Quote:
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At those rates, I'd feel like I was making a bet on whether the FDIC will really pay off on their insurance claims.
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If there was any concern that FDIC would default, I'm prepared. I have build around my property 30 feet electric fences with machine gun towers that are hidden underground and can be raised at a moments notice when the riots begin. I need them to protect my bunker which is filled with 5 years of food, water, books, and video tapes.  
__________________
I look to the present moment because that's where I live my life.
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 09:21 AM
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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: 49,830
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Re: Corus Bank Short Term CDs on the move again
Quote:
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Originally Posted by MJ
I need them to protect my bunker which is filled with 5 years of food, water, books, and video tapes. |
Would any of those tapes describe how to buy real estate with no money down?
REW
__________________
Numbers is hard
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 10:11 AM
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#7
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Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
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Re: Corus Bank Short Term CDs on the move again
Quote:
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Originally Posted by MJ
Yes. I have several CDs.
If there was any concern that FDIC would default, I'm prepared. I have build around my propety 30 feet electric fences with machine gun towers that are hidden underground and can be raised at a moments notice when the riots begin. I need them to protect my bunker which is filled with 5 years of food, water, books, and video tapes. |
Video tapes  Party at your bunker! But I thought the tribulations were 7 years?
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 02:04 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,329
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Re: Corus Bank Short Term CDs on the move again
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Originally Posted by Laurence
Video tapes Party at your bunker! But I thought the tribulations were 7 years? |
I didn't want to make it sound like I was going to have such a great time but there will be a small number of female guests to help me eat the food, wine and watch those "National Geographic" videos. My guests may be my toughest challenge to survive this financial ordeal.
This answer could be transferred to the "what do we do all day" thread.
__________________
I look to the present moment because that's where I live my life.
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Re: Corus Bank Short Term CDs on the move again
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07-21-2005, 05:41 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Dec 2002
Posts: 3,875
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Re: Corus Bank Short Term CDs on the move again
Quote:
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Originally Posted by MJ
I didn't want to make it sound like I was going to have such a great time but there will be a small number of female guests to help me eat the food, wine and watch those "National Geopgraphic" videos.* My guests may be my toughest challenge to survive this financial ordeal.*
This answer could be transfered to the "what do we do all day" thread. |
I'm a bit muddled. I had forgotten all about the "tribulations". In fact, I thought
they were the lamentations. Anyway, some great music. I really miss
the doo-wop era. 
JG
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