Quote: (01-29-2014 12:11 AM)paninaro Wrote:
Quote: (01-28-2014 10:28 PM)BIGINJAPAN Wrote:
Secondly a deposit( your money ) is a liability to a bank... YOU ARE CONSIDERED AN UNSECURED CREDITOR TO A BANK. All governments and courts will recognize that and you will have no chance winning that in a court battle in any country
But isn't the customer's deposit insured anyway by a third party, like by the FDIC in the case of US banks?
I dont know what the level is now but before crisis it was 100,000 and after it went to 250,000... Not sure what current levels sit at...
But if a big bank goes under I believe the FDIC has 25 billion to cover all deposits... Maybe 50 billion... But the big banks have over a trillion in deposits, so the FDIC won't do shit... If they have to print to pay everyone back, that will create even a bigger panic.
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