Is this supposed to be FTX? Unless it says it is FDIC-insured, I don’t care what they call it, you are risking whatever you deposit with them. To a real bank, your deposit is a liability. It is YOUR money that you have loaned to them at XX.YY%, and which you are entitled to withdraw per the rules on the account. When you borrow money from the bank, that is an asset on their books because it is money you owe to them. Assets:Liabilities for you are flipped on the bank’s books.
I had a saving account when I was a teenager, but when I was ready to leave home, it turned out my parents had taken it all and had a notebook showing every tiny item I had asked for, for school or a zipper to make my own clothes. 60 years ago. Am I still bitter?
Read the fine print everyone. You have (probably) agreed in a contract to be an “unsecured creditor” of the bank. You are in business with the bank. Cyprus-type bail-ins could happen anywhere the agreement is made.
This is why I bank with a Credit Union. I’ll never trust another bank after Washington Mutual went down in 2008 and taken over by Chase. They have the worst customer service and ding you for every little thing including a low balance
C over 1 year ago
Silicon Valley following the B. of A. path
allen@home over 1 year ago
Not much of a bank.
Darsan54 Premium Member over 1 year ago
Pretty much what a bank is supposed to do, if by “spent” you mean made various types of loans, wherein they will collect interest.
Zykoic over 1 year ago
FTX or SVB?
Liverlips McCracken Premium Member over 1 year ago
Is this supposed to be FTX? Unless it says it is FDIC-insured, I don’t care what they call it, you are risking whatever you deposit with them. To a real bank, your deposit is a liability. It is YOUR money that you have loaned to them at XX.YY%, and which you are entitled to withdraw per the rules on the account. When you borrow money from the bank, that is an asset on their books because it is money you owe to them. Assets:Liabilities for you are flipped on the bank’s books.
Frank Burns Eats Worms over 1 year ago
He wants his money so bad, he’s chomping at debit.
SameAsOldFfred over 1 year ago
Talk about good timing. These strips are written days earlier.
Zebrastripes over 1 year ago
Omg. The people will have lost all their money…
exness Premium Member over 1 year ago
I had a saving account when I was a teenager, but when I was ready to leave home, it turned out my parents had taken it all and had a notebook showing every tiny item I had asked for, for school or a zipper to make my own clothes. 60 years ago. Am I still bitter?
patiodragon over 1 year ago
Read the fine print everyone. You have (probably) agreed in a contract to be an “unsecured creditor” of the bank. You are in business with the bank. Cyprus-type bail-ins could happen anywhere the agreement is made.
Dapperdan61 Premium Member over 1 year ago
This is why I bank with a Credit Union. I’ll never trust another bank after Washington Mutual went down in 2008 and taken over by Chase. They have the worst customer service and ding you for every little thing including a low balance
mistercatworks over 1 year ago
This is a lot funnier if you are not Lebanese.
raybarb44 over 1 year ago
I just wish that this was a joke……
T... over 1 year ago
Chevy Chase crying in a SNL skit…
meowlin over 1 year ago
…First Ferengi Rule of Acquisition…
Billavi Premium Member over 1 year ago
…and it’s gone
drneil Premium Member over 1 year ago
That sums up the 2008 banking crisis