Project leader, IT engineer, Published Author. My current goals are to become established as a writer, and to grow my columns in my community, and nationally. Specialties: Writing, I.T., Problem Solver
Project leader, IT engineer, Published Author. My current goals are to become established as a writer, and to grow my columns in my community, and nationally. Specialties: Writing, I.T., Problem Solver
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Warnings Of A New Credit Crisis And The Potential For System Wide Bail-In Push
In that you are most probably correct. But all it took was 'one time' for a massive bailout on that fateful day back in 2008 and with the fear of God put into Congressmen to vote for it.
I personally don't believe when bail-ins come it will be piecemeal. It will come on a holiday similar to 1933 when they shut down the banks.
Warnings Of A New Credit Crisis And The Potential For System Wide Bail-In Push
Gary -
I believe the 'secret' to being able to ditch the FDIC insurance for most depositors is through this scheme.
Banks announce they need to recapitalize and issue a bail-in, taking unsecured creditor monies first. In return they will issue those depositors 'equity swaps'.
Then the FDIC will tell the depositor that they have received 'in kind' recompense for their rehypothicated moneies. That's how I believe they will get away with not having to cover any upcoming claims on insurance.