4 ms·
The bank is already gone. It's been wiped out. The discussion is now about the depositors.
by TigeriusKirk 4y ago
The bank is already gone. It's been wiped out.
The discussion is now about the depositors.
- matheusmoreira 4y agoDepositors lent their money to the bank. They took a risk by trusting a bank to manage their money for them. The bank took their money, invested it and lost it all. Let them lose too.
- baq 4y agoIt didn’t lose it all. About 90% is still there as assets and is being sold as we speak. The liquid assets have been sold already, so 50% will go back to the depositors next week.
- matheusmoreira 4y agoIf it hadn't become insolvent in the first place, there would have been no need to liquidate its real assets in order to pay off liabilities.
- baq 4y agoOf course but the point still stands. If it lost it all we’d all be in serious trouble. It lost ~10% and there’s a nonzero chance depositors will be made whole anyway (with zero taxpayer money involved).
- ctoth 4y agoYou are unbanked? How well does this work in 2023?
- matheusmoreira 4y agoI wish. Not completely. I do make every possible effort to move wealth off of banks though.