115 The practice of bail-in should be made illegal, not become the banking norm. This smells like a GIGANTIC scam to me. (expose-news.com) posted 53 days ago by CHIEFW00DY 53 days ago by CHIEFW00DY +115 / -0 63 central banks are implementing Basel III which includes the widespread practice of “bail-ins” to rescue failing banks Yesterday, the Bank for International Settlements announced that its member jurisdictions have made significant progress in implementing the final elements of Basel III. Basel III includes wide acc… 23 comments share 23 comments share save hide report block hide replies
Short version: if you have more than $250,000 (FDIC limit), they take all of the money over that amount and you never see it again. If you are lucky, maybe you get some bank stock, but maybe not.
Once again, my strategy of being broke my whole life pays off.
My word Tango, I needed a laugh this morning! Thanks!
Laughed out loud at that.
True but the FDIC runs out of money fast and so the $250K limit gets breached fast
Exactly. If there is more than a couple of banks, especially if they are big, it could be a real problem.
Even shorter version...if you have ANY money on deposit, you never see it again.