Some big banks in the US seem immune at the moment, but the recent revelations about Chase losing billions while trying not to reveal it to regulators is just par for the course.
I personally trust the US government to back my small deposits far more than any bank. It's not because the US government is so good, it's because the banks are so bad.
To me, it appears that without IMF prodding and EU intervention, Cypress would eventually have had a banking collapse that would have wiped out 100% of all depositors. The general operation of banks when losing money seems to increase leverage to try and make up for the losses, instead of acknowledging losses.
I would note, even the US has a long list of banks on the endangered list: http://www.calculatedriskblog.com/2013/03/unofficial-problem...
Some big banks in the US seem immune at the moment, but the recent revelations about Chase losing billions while trying not to reveal it to regulators is just par for the course.
I personally trust the US government to back my small deposits far more than any bank. It's not because the US government is so good, it's because the banks are so bad.
To me, it appears that without IMF prodding and EU intervention, Cypress would eventually have had a banking collapse that would have wiped out 100% of all depositors. The general operation of banks when losing money seems to increase leverage to try and make up for the losses, instead of acknowledging losses.