5/6/2024

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A “bail-in” is another form where banks and financial institutions are rescued where the responsibility is transferred from taxpayers (in the case of a bail-out) to depositors, which is you in this case. 

It was first introduced in 2010 via an executive bill signed by President Obama as a direct result of “bailing out” the 2008 “Too Big To Fail” banks and financial institutions. 

Is this part of the Democrats/Obama plan to make people poor? Remember, he stated that people were always trying to give him money and he never was without money.

Does this guarantee that the Democrats always have money and live off/spend other people’s money?

This executive order needs to be changed since the Congress is in charge of the purse..

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You must understand the relationship you have with your bank in order to protect your assets.

What is a “bail-in”? How can a “bail-in” affect your rights as a depositor?

A legal fact is that the money you have deposited into your bank is a loan you have made to your bank, for which you earn interest. The bank takes your money and loans it to others, and makes money based upon the differential in interest rates as well as fees. If the bank is on shaky financial ground and your money is sitting in bad loans, this ultimately becomes the problem of the creditor, i.e. you, the individual. Shockingly, the percentage of the public that truly understands this legal reality is still relatively insignificant.

So what is a “bail-in”? And how does it affect your rights as a depositor?

A “bail-in” is another form where banks and financial institutions are rescued where the responsibility is transferred from taxpayers (in the case of a bail-out) to depositors, which is you in this case. It was first introduced in 2010 via an executive bill signed by President Obama as a direct result of “bailing out” the 2008 “Too Big To Fail” banks and financial institutions. 

In other words, “bail-in” will not add to the government’s deficit and it will allow banks and financial institutions at risk of failing to take some of your deposits to bail themselves out. 

So will a “bail-in” likely happen? With our economy heading towards a possible recession, inflation at an all-time high and the housing market in a bubble, uncertainties are looming over the head of Americans. 

Will banks be able to willingly hold your money if another 2008 scenario crash to take place? Well, in addition to what happened in the recent years in Canada, Greece, Cyprus and Venezuela suggest that it’s likely possible. In fact, Lebanese banks have seized millions of accounts for the past two years where the depositors are on a financial lockdown.