>>20147163when obama signed dodd frank into law, he exclaimed
>there will never be another bail out! period!USD will be fine.
but instead what happens is the 'bail-in' process.
a bank says they're in distress.
the FDIC creates a bridge company, freeze all assets, and takes control.
then the FDIC starts selling YOUR assets in your 401k or whatever custodial accounts, that are in excess of FDIC limits.
yes, I understand your 401k/brokerage are not FDIC insured, but for whatever reason, they confiscate whatever is in excess of $250k and start selling it.
in return, they issue shares of the, would be, bankrupt bank.
usually that will mean you get 5 cents on the dollar, or any amounts greater then $250k will be reduced to 1/20th of it's value as bullshit bank shares.
the bank doesn't ever have to repurchase these shares.
the shares have no value whatsoever.
and that's basically the entire process.
so instead of taxpayers, 'investors' pay the gambling losses of the bankers.
