Feel free to read the link at zero hedge about November 16th at G20 Summit in Australia.
This is not about the FDIC. It’s about cleaning out depositors bank accounts to pay derivative bets by Bank CEOs....and not returning any money to hard working Americans because instead of a bail-out it is a bail-in.
Seriously, do you think people deserve for government to allow banks to make their savings BANK CAPITAL? That’s not socialist...it’s promoting stealing someone else’s money.
Absolutely wrong. I completely disagree with limits on derivatives “bets by bank CEOs”. Research what your bank does and choose your bank accordingly. Perhaps distribute your money to various banks instead of putting it all in one bank. Why not buy a bond or real estate or stocks or something else which can’t be taken if the bank goes belly-up?
I think a bank and a customer can come to any agreement they want without the government getting involved.