Bankrupt Banking

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Hiding Cash in Your Mattress Is Even Dumber Than Stockpiling Toilet Paper

XBT.MONEY 29 Mar 2020

It’s safer to keep your money in your bank account. The banking system is solid and trustworthy ... The New York Times reported that a bank branch in Midtown Manhattan temporarily ran out of $100 bills as the demand was so high ... Your money is protected even if a bank goes bankrupt, as the FDIC insures deposits up to $250,000 per account....

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Make the best of the worst of times

Hong Kong Standard 29 Mar 2020

Last week I had suggested that investors follow Warren Buffett's lead and buy into Bank of New York Mellon and Delta Air Lines if they wanted to beat the god of stocks at his own game ... Firstly, the distribution of money can cut down the number of enterprises and people going bankrupt, and reduce the risk of a systemic crisis in banks....

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Diboll through the ages

The Lufkin News 29 Mar 2020

citizens were jobless and 12 million had no work by the following year; more than 5,000 banks had failed and 32,000 businesses went bankrupt ... Bankers had a creditors’ meeting in the Texarkana National Bank to discuss putting the Southern Pine Lumber Co ... “To this day Republic is our lead bank because of the loyalty and faith that they demonstrated.”....

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PSB mergers the new hurdle for resolutions under IBC

Live Mint 27 Mar 2020

However, key decisions on the case—starting with the initiation of bankruptcy proceedings—have been delayed by small public banks on the committee of creditors (CoC) ... Similar is the case of a bankrupt engineered wood company—Associate Decor Ltd—in which Corporation Bank, Bank of Baroda (Bob) and Oriental Bank of Commerce (OBC) are the three lenders....

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State, National unemployment spikes amid coronavirus outbreak

The Intelligencer 27 Mar 2020

The U.S ... And so the fear would be a lot of these businesses that are not operating right now might cease to exist or may go bankrupt, simply because they’ve run out of cash reserves.” The Federal Reserve Bank in Chicago issued a report Thursday warning that the spike in unemployment could also hinder the housing market ... Also, the U.S ... ....

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Public deserves answers on Nebraska State Fair

The Grand Island Independent 26 Mar 2020

The next month, the CFO made a statement that the fair was in danger of going bankrupt and then resigned. I have been told that the fair board and staff made a very solid presentation to their banking partners in December and 2020 is expected to be a great event, and one that returns to profitability, far from bankruptcy ... ....

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This Unstable Moment is a Chance For Crypto to Go Mainstream

XBT.MONEY 25 Mar 2020

If a thief steals your credit card, your funds are replenished; if a bank goes bankrupt, up to $250,000 is covered by the Federal Deposit Insurance Corporation; and if the bailouts and economic stimulus packages achieve their intended outcomes, then our loyalty to the current centralized banking system will only grow....

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Help for self-employed in coronavirus crisis coming ‘in next couple of days’

Metro UK 25 Mar 2020

Boris Johnson has said the government is working ‘as fast as it can’ to introduce measures to help the self-employed (Picture. PA/Shutterstock) ... Advertisement. Advertisement ... PA) ... He said ... He added ... PA). Last week, Mr Sunak said the government would guarantee £330 billion of bank loans to firms to stop them going bankrupt during the coronavirus crisis ... ....

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What is our strategy?

The News International 25 Mar 2020

At a time of national crisis one wishes to rally behind its government. But what is the plan one should rally behind?. No leader wants people to die on his watch ... Contrary to its advice ... You can freeze repayment of loans, but for how long before the banks go bankrupt? ... You can freeze repayment of loans, but for how long before the banks go bankrupt? ... ....

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The New Federal Reserve as Garbage Can for All Capitalist Debt

CounterPunch 24 Mar 2020

It announced it will provide unlimited credit–and assume the bad debts, not just of banks, shadow banks, and wealthy investors but for what it called ‘Main St .’ ... “Give me your busted financial speculators, your bankrupt businesses, your huddled hedge funds yearning for guaranteed high yield. The wretched of your banking system....

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Steve Mnuchin Wants More Power — to Save the Rich, and Screw the Rest

WhoWhatWhy 24 Mar 2020

That year’s crash — caused by the greed of Goldman Sachs and other investment banks eager to cash in on subprime mortgages — was terrifying ... They saved the banks. They saved the top executives at those banks ... Iceland refused to bail out its banks; as a result, the banks, 95 percent of businesses, and the nation itself all went bankrupt....

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Bail Out the States Not the Banks

CounterPunch 23 Mar 2020

A mountain of money has already been promised to the banks, while many other soon-to-be bankrupt corporations will get unimaginable sums with few strings attached, such as the airlines, Boeing, cruise ships, etc., many of whom, like Boeing, were doing poorly before the crash....

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Exclusive: Goldman injects $1 billion into own money-market funds after heavy withdrawals

Yahoo Daily News 22 Mar 2020

Goldman's moves are unusual, but the bank does not stand alone in supporting its funds during the coronavirus crisis. Bank of New York ... The Reserve Primary Fund, which held Lehman Brothers debt, was overwhelmed by investor redemption requests after the investment bank went bankrupt....