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This is what I've learned from a financial newsletter called Gains, Pains, & Capital:
1) U.S. regulators don't have the money to actually insure deposits that they claim. (Banking deposits are in the trillions of Dollars and most deposit insurance entities only have a few billion dollars in funds.)
2) Politicians realize that people are fed up with the public funding bank bailouts... so they're targeting individual savers in the banks that are in trouble. Their thinking is that if you can't steal a little from everyone, you might as well try to steal a lot from a few people.
So could this happen in the US?
You better believe it. In fact, the FDIC has already put forth a proposal to do EXACTLY this in the event of a Crisis. Just four months ago, the FDIC drafted a formal strategy in which it suggested that during the next Crisis, it can...
1) Decide WHAT banks are systemically important.
2) Take control of any "systemically important" bank that it deems at risk of default.
3) Once in control of the bank, YOUR savings deposits can be "written down" in value (meaning you LOSE money you thought was yours) as part of the bank bailout.
Sadly because of the corrupt main steam media, less than 99% of Americans realize this is the case, but the legislation allowing this is already IN PLACE and the FDIC has already written out the rules for what will happen.
ec, I'm guessing your not exactly a local and you've immigrated from some bastion of leftist thought. Today's democrat party doesn't believe in property rights or personal freedom and is working hard to control every aspect of our lives. Today's democrat party wants to shove all forms of sexual perversion (against our collective will) down our throats, or any other place. Today's democrat party wants to implement confiscatory taxes on the nations hard working producers so the moochers can get free stuff, and on and on.
The socialist dictator in chief is going around congress with unconstitutional executive orders rather thru congressional action. The vast majority of these orders wouldn't even make it out committee in the real world.
O'bummer's EPA is putting a strangle hold on commerce with hundreds of useless over burdening regulations adding greatly to the cost of doing business.
So tell me, what's democratic about today's democrat party?
Ok, where in the Civil Rights Act of 1964 does it mention any or all forms of sexual perversion? Be specific.
As a liberal, this maybe news to you, but private businesses are just that, not government property. You damn right they have the right to refuse service to anyone they choose to with the exception of race or religion.
ec, butterflycrying. I would strongly suggest that you go to the library and check out a 3rd grade level biology book and bone-up on the laws of nature. You might also research the law more closely where it says that a business owner has the legal right to refuse service to anyone he/she chooses to.
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