Always remember, when you "deposit" your money at the bank, it becomes the banks money and you are now an unsecured creditor. If the bank collapses, you'll get what's left of your money at roughly the same time as the stationary supplier and janitorial contractor.
Of all financial instruments, credit default swaps, which are effectively just bets between banks, are considered the highest priority.
Always remember, when you "deposit" your money at the bank, it becomes the banks money and you are now an unsecured creditor. If the bank collapses, you'll get what's left of your money at roughly the same time as the stationary supplier and janitorial contractor.
Of all financial instruments, credit default swaps, which are effectively just bets between banks, are considered the highest priority.
Agree, except the first 250K per account is guaranteed if FDIC or NCUSIF insured.
Agree, except the first 250K per account is guaranteed if FDIC or NCUSIF insured.
Except Biden has pledged to make the depositors of this woke bank whole. That means you pay for it.
Except Biden has pledged to make the depositors of this woke bank whole. That means you pay for it.
Yep, can't let the too big to exist (((banks))) fail.
Yep, can't let the too big to exist (((banks))) fail.
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