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Thread: Bail ins coming to a bank near you.

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  1. #1
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    Bail ins coming to a bank near you.

    See here for starters:
    http://theeconomiccollapseblog.com/archives/tag/bail-in

    And here for how this precrime has been commited against me and you:
    http://larouchepac.com/dodd-frank

    to wit:
    "Hearings continue taking place in the House and Senate to review what exactly was voted into law with the 2010 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) even as the rules for implementing the law are still being written. According to LaRouchePAC and EIR sources on Capitol Hill, there is little to no recognition of the key fact of Dodd-Frank. Namely, Title II of the Act to establish an Orderly Liquidation Authority, vests the FDIC with the authority to conduct a European-style bail-in. The preamble to the Dodd-Frank Act claims “to protect the American taxpayer by ending bailouts.” This is done, however, through bail-in, a critical feature of the internationally established regime of what is called cross-border bank resolution.

    Bail-in, in its simplest terms, is the inverse policy of what was done under Franklin D. Roosevelt’s Glass-Steagall Act and the 1933 Banking Act generally. Under bail-in the bank survives, the depositors do not. As is stated in an IMF review of the policy from April 2012, “The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.” In the case of resolving a distressed globally active, systemically important, financial institution (GSIFI), bank creditors, specifically those whose assets exceed the FDIC insurance cap, will be subject to expropriation. This is not normal bankruptcy. Accounts and assets are seized and/or converted to stock under the resolution authority. The institution is prevented from failing. Values of securities are not written down through sale on the open market. And this is done to guarantee the continued operation of the financial institution and the “stability” of the financial system. "


    What this all means is the bank can gamble with your money, and when it loses you pay the loss, not the bank.

    I took the liberty of bolding the more pertinent part for you.
    Last edited by 5.56NATO; 08-07-2013 at 10:41 AM.

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