Bank of America could collapse in 2024; Net income dived 50% to $3.1 billion compared to $7.1 billion in 2022. - The Great Awakening - Where We Go Qne, We Go All!

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Bank of America could collapse in 2024; Net income dived 50% to $3.1 billion compared to $7.1 billion in 2022. (www.msn.com) 💥 FUTURE BANK COLLAPSE

posted 1 year ago by Jscholl17 1 year ago by Jscholl17 +82 / -0

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– Narg 1 point 1 year ago +1 / -0

The plan this time is a bail IN, not a bail out. The banks will be made whole by taking DEPOSITOR'S money, not by getting hand-outs from the FED.

https://www.qwant.com/?q=bail-in

EDIT:

What is a bail-in?

A bail-in is a form of financial relief for banks that are in danger of collapsing or going bankrupt. The relief comes from canceling some or all of the bank’s debt by reducing the value of bank shares, bonds, and uninsured deposits. (Note: The Federal Deposit Insurance Corporation (FDIC) insures most bank deposits up to $250,000 per individual.)

A bail-in is the opposite of a bailout. Instead of relief funds coming from outside (taxpayers), the funds come from inside (shareholders and depositors). Although bail-in relief has been implemented in Europe, it has never been used in the U.S.

https://fortune.com/recommends/banking/what-is-a-bail-in/

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