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 60 days ago by CHIEFW00DY 60 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.