If you have more money in bank accounts than I have–or probably ever will have–you might want to learn what the difference is between bank bail-outs and bank bail-ins. Very much worth a couple of reads. Over-extraction of all capital resources continues apace in the Society of Control…
Dodd-Frank states in its preamble that it will “protect the American taxpayer by ending bailouts.” But it does this under Title II by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors. That includes depositors, the largest class of unsecured creditor of any bank.Title II is aimed at “ensuring that payout to claimants is at least as much as the claimants would have received under bankruptcy liquidation.” But here’s the catch: under both the Dodd Frank Act and the 2005 Bankruptcy Act, derivative claims have super-priority over all other claims, secured and unsecured, insured and uninsured
Have to go find out what the position at my bank is. Thanks for this.