Now we know what to expect from banks when they fail and can't give depositors their money. Your deposits magically transform into investment instruments. Chinese tanks roll on streets to scare Henan Bank protestors.

Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2024 Poal.co

1.2K

• (+10/-0)

Now we know what to expect from banks when they fail and can't give depositors their money. Your deposits magically transform into investment instruments. Chinese tanks roll on streets to scare Henan Bank protestors. (theprint.in)

(post is archived)

You are currently inside a comment thread.

Click here to see all the comments (3).

[–] • 2 pts

but muh FDIC

link

[–] • 1 pt

FDIC was essentially done away with in 2012, look it up. Banks are only required to offer you "bank stock IOUs" in the effect of a bank run or other insolvency.

So you get bank stock that's actually worthless (because the bank is failing) instead of any insured money.

parent
link

(post is archived)

You can claim this sub in /s/subrequest