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Did any depositors loose money in 2008 from bank failures? If not when was the last time regular depositors lost money?
by kmonsen 4y ago
Did any depositors loose money in 2008 from bank failures? If not when was the last time regular depositors lost money?
- deleted 4y ago[deleted]
- shkkmo 4y agoI don't think that information is public to protect privacy...but any balances over the limit in a failed bank would result in non-insured losses.
- jmalicki 4y agoThat's actually not true [1] - the FDIC has continued the practice of covering balances over the insured limit despite not being required to. [1] https://www.americanbanker.com/opinion/will-fdic-keep-protecting-failed-banks-uninsured-deposits https://www.americanbanker.com/opinion/will-fdic-keep-protec...
- shkkmo 4y agoInteresting, glad they're doing that but ok probably best not to count on that policy if you don't have to.
- danuker 4y agoIn 2008, no. "No depositor in an American bank lost a penny to a bank failure." [1] But they were bailed-out by larger banks, and eventually the taxpayer. Next time, there might be bail-ins instead. [2] [1] - https://www.investopedia.com/articles/economics/09/financial-crisis-review.asp#toc-what-is-a-mortgage-backed-security https://www.investopedia.com/articles/economics/09/financial... [2] - https://www.investopedia.com/articles/markets-economy/090716/why-bank-bailins-will-be-new-bailouts.asp https://www.investopedia.com/articles/markets-economy/090716...