This is the part that kills me… the fact that the banks bought fucking bonds with customer deposits over the last few years while the federal funds rate was sitting damn near on zero… it had nowhere to go but up.

Unfortunately most people in the general public are too uneducated to know this, but shouldn’t banks know that bond price is inversely correlated to the interest rate? Therefore their investment in a bond has no potential to increase in value and can only go down in value in the short term?

Soooooooo tragic that the bank gambled peoples money away on fucking bonds and then the house of cards topped when ppl asked for their own money back

(Granted that bond price returns to the original price as it approaches maturity)