Don’t Be Stupid – Leave Your Money in the Bank

Check this out… Despite the recent increase in FDIC insurance limits, Richard Cruz of New York no longer trusts banks. In order to protect his money, he has decided to withdraw his money, place it in a shoebox, and then allow a newspaper to publish his photo such that everyone will know what the guy with the box full of money looks like.

Curious to know how he settled on a shoebox? Well…

“No one hides their money under a mattress any more. That’s the first place people would look.”

I guess it’s hard to argue with that sort of logic…

14 Responses to “Don’t Be Stupid – Leave Your Money in the Bank”

  1. Anonymous

    Wow. I work at a bank and tons of people have come in wanting cash. One person wanted $100,000. From the picture, it looks like this guy has maybe a couple hundred dollars! Silly.

  2. Anonymous

    That is just hillarious!! I know things are bad at the moment but keeping your money in a shoebox is pretty extreme, and publishing your picture will mean he can expect plenty of visitors i’m sure!

  3. Anonymous

    Hrmmm… I’ve been trying to find investments rather than just leave my money around in the bank. Seems like a waste ATM… things might be down, but a lot of the stock shares IMO are absolutely devalued to hell right now and that presents a buying opportunity for those that are willing to hold on.

  4. Anonymous

    At least Suze Orman is saying “stick it in a credit union”… geez. Which I already had, ages ago, all piddly little pocket change of it. Way ahead of the pack for once. 🙂

  5. Anonymous

    I would suggest the refrigerator, especially the freezer. No thief is going to look there, especially if he hides the money behind some heavy frozen meat. Oven is another good place, but one needs to be sure not to turn it on by mistake.

    A math question. How much money would fit in a shoebox?

    This reminds me.There is a danger with keeping money at home this guy hasn’t thought about: http://www.freerepublic.com/focus/f-news/1942681/posts
    I found this story a while ago by accident when looking for something else, but this post reminded me of it.

  6. Anonymous

    uhmmm… is that for real? Maybe it’s a joke? Hallowe’en Fool’s Day???

    Wow! The guy just about qualifies for a Darwin Award.

    About the lottery: To claim a prize, you have to sign an agreement that the lottery can use your image and your name for publicity purposes. How else would they get other suckers to buy lottery tickets?

  7. Anonymous

    It is amazing what folks will do to get in the newpapers, and what reporters will pass off as news.

    Look closely and you’ll see that the denominations include a 10, a 50, and several 20s (that would have been given to him by the bank as a 100). Also notice that several of the bills are curled like they just came out of a tri-fold wallet.

    Nice try Richard, but I don’t believe those few hundred dollars were the savings for your daughter’s education, especially the ones you threw in there from your wallet.

    Nevertheless, you made the paper. Nice show!

    Clair

  8. Anonymous

    He reminds me of the people who win the lottery and then have a picture of themselves printed in newspapers across the country. Or the people who win big at the casino and have their name and pic used on billboards advertising the casino.

    Like mentioned above I have accounts in a bank and a credit union. In the unlikely event one goes under I still have the other until the FDIC can refund my money.

  9. Anonymous

    Banking is neccesary, but consider changing your banking strategy. I have money at three banks, so if one has touble, I can still manage my money at the others. Also consider putting your money into local banks and Credit Unions vs. national banks that are more likely to have exposer to the mortgage mess.

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