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Cyprus Deposit Tax - Could It Ever Happen Here?

Monday, March 18, 2013 - 9:04 AMAlly Bank - Details
As I am sure you have all heard by now, the government of Cyprus is considering imposing a tax on the bank deposits of their ordinary citizens in order to pay for a bailout of their banking system.

I'm curious to gather people's opinions here:  Do you think that something like that could ever be considered here in the United States to pay for a bailout?  To reduce the national debt?  For any other reason?

Also coming to mind this morning is that Ally Bank is still majority owned by the U.S. Government.  Are there any fears being felt by anyone out there that the government may consider a similiar deposit tax "solution" if Ally's efforts to sell assets does not work and they are not able to pay back their TARP funds.

In this age of uncertainty, should we worry about having our money in a bank that is government owned?

I think it will be interesting to see what you all are thinking on the subject.
TampaBayBCTampaBayBC3 posts since
Aug 14, 2011
Rep Points: 38