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Cypress Could Happen In The US; Actually It Happens All The Time

Tuesday, March 26, 2013 - 7:28 AM
For over a week now, banking commentators have been asking whether Cypress could happen here in the US.  When the initial solution in Cypress was to mark down or seize legally insured deposits, the answer was “no.”  Now that only deposits over insured limits have been targeted, the answer is not only “yes” but that it happens in the US all the time.

Cypress Could Happen in the US; Actually It Happens All the Time
ShorebreakShorebreak2,683 posts since
Apr 6, 2010
Rep Points: 14,546
1. Tuesday, March 26, 2013 - 12:09 PM
Keep in mind that it only happens in the US when the bank fails.  And if you have uninsured funds, you are taking that risk (in the US or anywhere else).

Gov'ts need to stop trying to save companies and banks.  Once they stop intervening, leaders of other banks and companies will get the picture.  :O)
ChrisCDChrisCD70 posts since
Nov 18, 2010
Rep Points: 457