Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month.
Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck, and economists are warning of financial crisis if a default does occur.
https://thehill.com/policy/finance/3845901-bank-of-america-ceo-preparing-for-us-debt-default/amp/
Join Slavyangrad chat. Your opinion matters. https://t.me/+PUg0rQrZdiw4YWFh
@Slavyangrad Join SLG 🔺 Intelligence Briefings, Strategy and Analysis, Expert Community
We're already in such a crisis. It's only deepening and worsening at this point. The inevitable end was coming no matter what.
It is. I would be removing any cash I had in the bank, but leave in those payments like mortgages, rent personal loans etc. Make sure you keep up to date and keep HARD COPIES of statements where the bank processes the payment as your evidence of payment.