Re:How deep is the rot in America’s banking industry?
by rufus_foreman on Thursday March 16, 2023 @06:57PM
(#35190109)
>> they simply have the failing bank acquired by a peer bank
"Simply".
WaMu - acquired, depositors got 100 cents on the dollar
IndyMac - 50 cents on the dollar
Silver State - 11 cents on the dollar
Depositors have not always been made whole in the past. Calvinball has certainly been played in the past, for IndyMac the FDIC limit was retroactively raised from 100K to 250K.
That's what people are pissed about. The Calvinball rules.
And we know how that works out, if you're in the in group, you get paid, and if you're not in the in group, you get fucked.
As Black Flag once sang, "We're tired of being screwed. Revenge!"
"Simply".
WaMu - acquired, depositors got 100 cents on the dollar
IndyMac - 50 cents on the dollar
Silver State - 11 cents on the dollar
Depositors have not always been made whole in the past. Calvinball has certainly been played in the past, for IndyMac the FDIC limit was retroactively raised from 100K to 250K.
That's what people are pissed about. The Calvinball rules.
And we know how that works out, if you're in the in group, you get paid, and if you're not in the in group, you get fucked.
As Black Flag once sang, "We're tired of being screwed. Revenge!"