IMPORTANT: Authority to allow bank “bail-ins” would be in - TopicsExpress



          

IMPORTANT: Authority to allow bank “bail-ins” would be in lieu of approving any future taxpayer bailouts of banks that would be in dire need of recapitalization in order to survive. Some financial experts contend that banks already have the legal authority to confiscate depositors’ money without warning, and at their discretion. Financial analyst Jim Sinclair warned that the U.S. banks most likely to be “bailed-in” by their depositors are those institutions that received government bail-out funds in 2008-2009. Such a “bail-in” means all savings of individuals over the insured amount would be confiscated to offset such a failure. “Bail-ins are coming to North America without any doubt, and will be remembered as the ‘Great Leveling,’ of the ‘great Flushing’ (of Lehman Brothers),” Sinclair said. “Not only can it happen here, but it will happen here. Read more at wnd/2013/09/americans-warned-bank-bail-ins-coming/#5wMyXSxBrS3tOPG7.99
Posted on: Sat, 28 Sep 2013 14:57:28 +0000

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