Bank bail-ins are coming
alisonbanville at yahoo.co.uk
Mon May 5 14:00:11 BST 2014
In the past year the FDIC (federal deposit insurance corporation) published a joint paper with the bank of England on bail-ins - remember Cyprus last year - rather than government bailouts the banks simply took their depositors money.
Following the 2008 crisis, many governments, including US & UK, decided it would be extremely unpopular during the next financial crisis if taxpayers were to bail out the banks again so the paper suggests the best way to rescue / re-capitalise is to use a bail in - as in Cyprus; depositors with probably more than £100,000 will have a percentage of their money confiscated by the banks
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