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	<title>Millionaire or Bust &#187; Bank Failure</title>
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	<description>teaching you how to think about your finances</description>
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	<managingEditor>david@millionaireorbust.com (Flying Squirrel Media)</managingEditor>
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	<category>personal finance</category>
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		<title>Millionaire or Bust</title>
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	<itunes:subtitle>teaching you how to think about your finances</itunes:subtitle>
	<itunes:summary>teaching you how to think about your finances</itunes:summary>
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	<itunes:author>Flying Squirrel Media</itunes:author>
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		<title>MOB #67 &#8211; Recession, Auto Bailout &amp; the Twelve Days of Christmas</title>
		<link>http://www.millionaireorbust.com/archives/mob0067/</link>
		<comments>http://www.millionaireorbust.com/archives/mob0067/#comments</comments>
		<pubDate>Mon, 08 Dec 2008 13:00:30 +0000</pubDate>
		<dc:creator>David van Sunder</dc:creator>
				<category><![CDATA[podcasts]]></category>
		<category><![CDATA[Auto Bailout]]></category>
		<category><![CDATA[Bank Failure]]></category>
		<category><![CDATA[Gas Prices]]></category>
		<category><![CDATA[Oil Prices]]></category>
		<category><![CDATA[Personal Finance]]></category>

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		<description><![CDATA[On this episode of Millionaire or Bust, we dive right in with an update on the state of the recession. And yes we&#8217;ve been in a recession for a year now according to the announcement by the NBER. Of course, that was obvious to everyone who saw that Georgia Community Bank became the 23rd bank [...]]]></description>
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		<itunes:duration>0:34:57</itunes:duration>
		<itunes:subtitle>On this episode of Millionaire or Bust, we dive right in with an update on the state of the recession. And yes we&#8217;ve been in a recession for a year now according to the announcement by the NBER. Of course, that was obvious to everyone who saw [...]</itunes:subtitle>
		<itunes:summary>On this episode of Millionaire or Bust, we dive right in with an update on the state of the recession. And yes we&#8217;ve been in a recession for a year now according to the announcement by the NBER. Of course, that was obvious to everyone who saw that Georgia Community Bank became the 23rd bank to fail this year and that employers cut 533K jobs in November, which is the most since 1974.

Of course, the fact that November auto sales sank to the worst level since 1982 might have been a clue as well. So, we discuss that as well as the UAW&#8217;s agreement to make concessions to help automakers, which must have been helpful because it preceded President Bush and the Democrats reaching a deal to extend enough aid to tide the automakers over until the next President takes office.
Then we discussed Obama revealing his five part job-creation plan.
Since the show was feeling a bit too heavy, we discussed PNC Financial Services Group&#8217;s Index of &#8216;The Twelve Days of Christmas&#8217;.  Unfortunately the song items&#8217; cost rose 10.9% in 2008 and yes we did sing&#8230;badly.  So if you need a laugh, this might be the part of the show designed for you.  Maybe next time we need to practice first.
Then we discuss an article that details how you can use this down economy to your advantage, to get the home remodeling that you&#8217;ve put off for cheaper.
Then we quickly check in on the dropping prices of oil and gas.
Before we end the show, we listen to some feedback from Bill from Ohio about the idled GM workers.
If you enjoy Millionaire or Bust, please head on over to iTunes and give us a nice review. If you have some feedback on how to make the show better, shoot us an email and help us improve the show.  We appreciate all your comments. Thanks for listening everyone!</itunes:summary>
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		<title>MOB #52 &#8211; Bailout Proposal, Bank Purchases &amp; Market Implosion</title>
		<link>http://www.millionaireorbust.com/archives/mob0052/</link>
		<comments>http://www.millionaireorbust.com/archives/mob0052/#comments</comments>
		<pubDate>Thu, 02 Oct 2008 09:20:17 +0000</pubDate>
		<dc:creator>David van Sunder</dc:creator>
				<category><![CDATA[podcasts]]></category>
		<category><![CDATA[Bailout Proposal]]></category>
		<category><![CDATA[Bank Failure]]></category>
		<category><![CDATA[DJIA]]></category>
		<category><![CDATA[FDIC]]></category>
		<category><![CDATA[Stock Market]]></category>

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		<description><![CDATA[This episode of Millionaire or Bust is our midweek short episode. I cover the status of the United States government&#8217;s bailout proposal, the purchase or nationalization of several banks world-wide and the market implosion on Monday. I take a moment to put the DJIA&#8217;s Monday 777 point drop in perspective. It was the 17th largest [...]]]></description>
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		<itunes:duration>0:06:30</itunes:duration>
		<itunes:subtitle>This episode of Millionaire or Bust is our midweek short episode.  I cover the status of the United States government&#8217;s bailout proposal, the purchase or nationalization of several banks world-wide and the market implosion on Monday.

I take a[...]</itunes:subtitle>
		<itunes:summary>This episode of Millionaire or Bust is our midweek short episode.  I cover the status of the United States government&#8217;s bailout proposal, the purchase or nationalization of several banks world-wide and the market implosion on Monday.

I take a moment to put the DJIA&#8217;s Monday 777 point drop in perspective. It was the 17th largest drop in percentage terms.  Here&#8217;s a list of the largest daily DJIA percentage losses in history.
With all this turmoil, you might be wondering what will happen to your accounts. If you&#8217;re with Washington Mutual and want to know what the bank failure and purchase by JP Morgan means to you, you can check out the FDIC&#8217;s FAQ. 
If you&#8217;re not with Washington Mutual and you have any questions about what will happen if your bank fails, the FDIC has a more general bank failure FAQ for you as well.
For a more detailed account of what happened this week, catch our Monday episode when we have more time to go into depth. Thank you all for listening.</itunes:summary>
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