Credit Unions ex empt from "bail ins"
Apr 3, 2014 11:27:07 #
Letter to the editor
POSTED: 04/02/2014 01:58:57 AM PDT
Are your deposits safe in banks? No.
Why? Its called bank bail-in. Bail-in allows failing institutions, including banks, to recapitalize by taking part of your money from your accounts, etc., with no recourse. Go to your computer and type in bank bail-in. Scary? It should be.
By implementing bail-in, the Dodd-Frank Act of 2010 claims to support taxpayers by ending bailouts. The act allows the Federal Deposit Insurance Corporation to recapitalize a failing institution by taking your money deposits to bail them out. Credit unions are exempted. This goes deeper, and includes global financial institutions, because the financial system is intertwined.
Did you know Bank of America and Chase have more unsecured debt obligation than the gross national product of America? Everything stated above and much more that you must know can be found under bail-in. If Congress does not act soon to restore the Glass-Steagall Act, then say goodbye to money.
Arthur Miller
Eureka
POSTED: 04/02/2014 01:58:57 AM PDT
Are your deposits safe in banks? No.
Why? Its called bank bail-in. Bail-in allows failing institutions, including banks, to recapitalize by taking part of your money from your accounts, etc., with no recourse. Go to your computer and type in bank bail-in. Scary? It should be.
By implementing bail-in, the Dodd-Frank Act of 2010 claims to support taxpayers by ending bailouts. The act allows the Federal Deposit Insurance Corporation to recapitalize a failing institution by taking your money deposits to bail them out. Credit unions are exempted. This goes deeper, and includes global financial institutions, because the financial system is intertwined.
Did you know Bank of America and Chase have more unsecured debt obligation than the gross national product of America? Everything stated above and much more that you must know can be found under bail-in. If Congress does not act soon to restore the Glass-Steagall Act, then say goodbye to money.
Arthur Miller
Eureka
Apr 3, 2014 11:52:48 #
Patty wrote:
Letter to the editor br POSTED: 04/02/2014 01:5... (show quote)
Something must be terribly wrong or right or at least different as, once again I agree with you Patty! Yes, RESTORE GLASS-STEAGALL!! Like NOW! I personally "bank" only at credit unions.
Apr 3, 2014 12:00:46 #
Btfkr wrote:
Something must be terribly wrong or right or at least different as, once again I agree with you Patty! Yes, RESTORE GLASS-STEAGALL!! Like NOW! I personally "bank" only at credit unions.
:thumbup: :lol:
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.