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Business What Do You Think of This? Bailing out Big Banks
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Pete Offline

Posts: 587
Joined: May 2011
Post: #1
What Do You Think of This? Bailing out Big Banks
I've been busy but I've seen how the Cypriots were all robbed their money.

I was just browsing this morning and found this.

What do you think of it?

Basically it states that (like Cyprus) if a big bank fails, depositors would face confiscation of their money. They would receive in exchange equity shares on the institution.

Quote:The resolution states that while the US would prefer large financial institutions be resolved through ordinary bankruptcy, depositor wealth confiscation will be pursued in the case of a systemically important institution (i.e. BOA, JPMorgan, Goldman Sachs, etc):
As demonstrated by the Title I requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the U.S. would prefer that large
financial organizations be resolvable through ordinary bankruptcy. However, the U.S. bankruptcy process may not be able to handle the failure of a systemic financial institution without significant disruption to the financial system.

What do you think of this? I saw this at a site that sells and promotes physical silver. Nonetheless it wouldn't surprise me that what happenned in Cyprus would spread all over the world.

What would you do if it happenned ?
(This post was last modified: 03-31-2013 08:17 AM by Pete.)
03-31-2013 08:17 AM
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What Do You Think of This? Bailing out Big Banks - Pete - 03-31-2013 08:17 AM

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