2 ms·
They took over the bank, taking all its assets but also assuming responsibility for all its liabilities to its depositors.
by HWR_14 4y ago
They took over the bank, taking all its assets but also assuming responsibility for all its liabilities to its depositors.
- xeromal 4y agoThe assets being loans and such and the liabilities meaning the bank accounts people held?
- HWR_14 4y agoExactly. The important thing to the people who deposited money is that they get made whole, but the shareholders will still get nothing (or a nominal sum) so they still have an incentive to hold the bank executives accountable in the future.