Thank you. I think here, Frank and Dodd were behind it. What is amazing is that according to the article, people in the EU now have NO protection. We still have the FDIC.
I don’t think the FDIC has enough to cover the insurance of what’s being used for these bail-ins, though.
The law is written that they can only use funds in accounts that are over the $250k insured amount, but I’d bet my left arm the big banks aren’t following that regulation.
Thank you. I think here, Frank and Dodd were behind it. What is amazing is that according to the article, people in the EU now have NO protection. We still have the FDIC.
I don’t think the FDIC has enough to cover the insurance of what’s being used for these bail-ins, though.
The law is written that they can only use funds in accounts that are over the $250k insured amount, but I’d bet my left arm the big banks aren’t following that regulation.
Right. Why would they start now?