What happens if a huge bank like JP Morgan goes bankrupt? - The Great Awakening

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What happens if a huge bank like JP Morgan goes bankrupt?

posted 3 years ago by bojackjohnson 3 years ago by bojackjohnson +114 / -0

For example, my mortgage is through JP Morgan Chase. Do credit cards and mortgages and such just get wiped out? Or do they demand people pay their balances all at once? Or does another bank buy them out and the debts are transferred? How does all of that work?

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– Lopeover 1 point 3 years ago +1 / -0

Remember Cypress. The next big bank failure will not be resolved with a government Bail-Out. It will be resolved by a depositor Bail-In. It’s now legal for a big bank to confiscate your money. https://www.popularresistance.org/docs/bail-in.pdf

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