Bank depositors risk losing a portion of their bank deposits. However, since each account is protected by the Federal Deposit Insurance Corporation up to $250,000, the scheme would covertly revert back to passing the bill to taxpayers to fund the FDIC, which quickly will be bankrupted by the demand for payouts.
OK, right up front: What I know about high finance, investment banking, and so on, you can write on the back of a postage […]
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While the mass media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US. Poverty also kills.
