Quote:
Originally Posted by 2000cs
I think they moved uninsured (and all other) deposits to the side; they will get funded as needed by taxpayers via FED, FDIC and Treasury Dept. Secured creditors will get a bite at assets, if any, and that may include the parent company’s assets. I think a merger is in the works, but it isn’t clear who can and will take this on.
This weekend was about reassuring the world’s depositors so bank runs are avoided. The week ahead will be about working the underlying problems, including the FED’s role in drying up liquidity.
And yeah, lots could go wrong. Hopefully not, but it is far from over.
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I misread it - went back and it does say unsecured creditors.
Not sure how they can say definitively taxpayers will not bear any cost though until it plays out.