holdover
.475 A&M Magnum
yup. it used to be that the big banks , say citibank could not play with , nor use to pay any debts with money from peoples accounts , after 2008, they rewrote the laws in 2012 , its called a bail in , where the banks can now seize private accounts , and as sure as the sun comes up tomorrow, they will .
A bail-in is a financial rescue method where a failing bank or institution stays solvent by forcing its own internal stakeholders—such as bondholders, unsecured creditors, and large depositors—to absorb losses rather than relying on taxpayer-funded government bailouts
say goodby to all the money you have in the bank, and if you think your insured by FDIC your not. they only paid a percentage back in 08 when leman took a giant shit
A bail-in is a financial rescue method where a failing bank or institution stays solvent by forcing its own internal stakeholders—such as bondholders, unsecured creditors, and large depositors—to absorb losses rather than relying on taxpayer-funded government bailouts
- Debt-to-Equity Conversion: Regulators or financial authorities write down, cancel, or convert a failing institution's debt into equity (company shares) to immediately strengthen its capital cushion. [1, 2, 3]
- Loss Hierarchy: Losses are absorbed in a strict order: shareholders take losses first, followed by junior and senior bondholders, and finally uninsured deposits (THAT MEANS YOU) (amounts exceeding statutory insurance limits like the $250,000 FDIC cap in the United States). [1, 2]
say goodby to all the money you have in the bank, and if you think your insured by FDIC your not. they only paid a percentage back in 08 when leman took a giant shit