Posted on 03/11/2023 7:35:01 PM PST by patriot torch
The Great Recession that followed ushered in the term too big to fail. Regulators and politicians used it to describe the rationale for rescuing some of the country's largest financial institutions with taxpayer-funded bailouts. Heeding the public's displeasure over the use of their tax dollars in such a way, Congress passed the Dodd-Frank Wall Street Reform and Consumer Act in January 2010, which eliminated the option of bank bailouts but opened the door for bank bail-ins.
(Excerpt) Read more at investopedia.com ...
next?
VIDEO:
People lining up outside First Republic Bank in Los Angeles after SVB failure
https://rumble.com/v2cqfg4-people-lining-up-outside-first-republic-bank-in-los-angeles-after-svb-failu.html
Paranoid people annoy me.
Been hearing about “bail-ins” for decades now, on conservative radio ads.
Bail-in is a creation of Dodd-Frank of 2010. It allows banks in trouble to just declare they are not in trouble by confiscating depositors money and also nullifying the debts of the bank.
A bail-in is a do-over at the expense of the depositors and creditors.
In a bail-in, the bank doesn’t fail, the depositors and creditors do. It is like a bank robbery in the old west. Oops, your money you gave to me for safe keeping is gone. Too bad.
Sweet deal. That is why the billionaires are screaming bloody murder for a bail-OUT.
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