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I can't imagine that going well. "No we're taking your $50k life savings back so we can give it all to a client that had $5mil and deserves your $50k life savi
by WWLink 4y ago
I can't imagine that going well.
"No we're taking your $50k life savings back so we can give it all to a client that had $5mil and deserves your $50k life savings more than you do"
- bombcar 4y agoWell up to $250k wouldn’t be touched, but yeah, doing a clawback for a bank could cause a run on all banks.
- lordnacho 4y agoNot sure if this type of cynicism is more Reddit than HN, but somehow I suspect the rules are more likely to be written by the guy with the 5M deposits and his even richer friends.
- iEchoic 4y agoCheck out the Madoff documentary on Netflix, there are interviews with people who had exactly that happen as they clawed back funds to try to make everyone whole.
- bombcar 4y agoMadoff was an actual pyramid scheme; once criminal fraud enters the picture it’s a different story.