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.