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Bankruptcies can be pretty damaging. If we see a lot of loan defaults, we might see a banking crisis. ...but probably not. Banks are very well capitalized th
by koheripbal 7y ago
Bankruptcies can be pretty damaging. If we see a lot of loan defaults, we might see a banking crisis.
...but probably not. Banks are very well capitalized these days - much much better than 2008.
- Zenst 7y agoBanks can cover some things going wrong, sometimes, not everything going wrong at once. Just takes one queue at a bank, few social media posts and next thing, all those branches have queues due to panic and end up with a self fulfilling prophecy so to speak. Heck, if people can panic buy toilet roll, nothing is out of the reach of stupidity.
- cycop 7y agoMy bank would only let me take $3k out today , they said come back tomorrow for another $3k .... it is already starting.
- koheripbal 7y agoThose are pretty normal restrictions. Why on Earth are you withdrawing that much cash? Your account is FDIC insured up to $250,000.
- alexpetralia 7y agoIsn't there FDIC insurance for precisely this reason? I have no reason to believe that the counterparty here is illegitimate.