Interesting how a bank holiday could wipe-out unrecoverable deposits if an insolvent FDIC doesn’t bailout depositors but if you owe money that debt will still be owed to the next financial institution who assumes the failed bank’s “assets”.
Discussion
Interesting how a bank holiday could wipe-out unrecoverable deposits if an insolvent FDIC doesn’t bailout depositors, but if you owe money then that debt will still be owed to the next financial institution who assumes the failed bank’s “assets” at pennies on the dollar. 💵
Source? RHR is about the only news I listen to. I know nothing about this bank.