Your Bank Has Failed

What would happen if your local bank failed? Scott Pelley and "60 Minutes" were given extraordinary access, as the Federal Deposit Insurance Corporation moves in to take over a failed bank in Chicago.

[@williamcampbellpepper5186]

CBS please do more investigative and infiltration type journalism such as this. It would be appreciated.

[@Someguyto]

The FDIC will not save your bank account.

[@jonslg240]

They're too busy trying to connect Russia and Trump, and Trump to everything bad that happens, to do any real journalism anymore It's pretty sad, to say the least

[@damiandalo2517]

The one and only Billy Shears! It would be nice if they did!

[@tjstevens001]

CBS should do their due diligence and investigate the Deep State!!

[@raymondfrye5017]

@@tjstevens001 CBS=One of Deep States mouthpieces

[@TheChadc94]

I watched this last week in my economics class and was so fascinated , I had to watch it again.

[@ohmusicsweetmusic]

I bet that was an interesting lesson: "Today class we're going to learn how the government never goes broke."

[@MrThe1234guy]

What are you doing today with your economics degree?

[@nickarcher03]

I grew up in Glenwood and passed this bank hundreds of times. Fascinating process about how a bank fails and is taken over by the FDIC.

[@tamieholmes1725]

Learn who the people of FDIC really is U r being replaced right in front of you

[@brandicane1277]

Silicon brought me here! Great explanation

[@roselpadilla]

“History never repeats itself, but it does often rhyme.”

[@billal-dz]

Hopefully the FDIC will do the same thing here for SVB

[@clownhands]

Here for SVB

[@aichafirst]

This is such useful reporting. I wish news orgs did more reporting like this.

[@frlouiegoad4087]

"NEVER" Buy stock in any BANK! I did WM and lost 100%

[@renneedwards9826]

So sorry. Thank you for the info and warning.

[@biscuitninja]

I keep shorting Citi... easy money.

[@jonslg240]

@@biscuitninja lol

[@ErickGainesSanders]

Horrible. Sorry for the losses. I hope you were able to recoup at least some of it.

[@HusseinDoha]

@@renneedwards9826 No. This is a bad info. Why you shouldn't buy stocks of an entire industry (banking)??? Because one failed? In all industries, some companies go bust.

[@shadowamazon]

who's here watching this because of the SVB collapse in 2023?

[@EduardoEscarez]

Suddenly this video is becoming interesting again 😅

[@brendansmith7842]

Golden video and continually relevant...

[@heidialexander9048]

Very informative.

[@jonboybilly]

SVB brought me here.

[@det.nancydrew7133]

Hard lesson learned by taking care of elderly grandparents. Never, never, EVER allow ANY bank (or bank "trust" dept), large or small, national or local, to handle retirement money or assets beyond a checking account. Bankers get away with talking incompetent elderly people into signing onto loans and then not telling the couple that they need to pay monthly - or ever- ensuring that the loans grow, and then claiming that couple was competent but then claiming the couple beccame fully INcompetent just months later when the couple sued and fired them for not paying their bills as promised and allowing their life insurance policies to lapse. The bank sued the couple for control over their money and assets, which destroyed the couple emotionally, physically, and financially. And guess what? No attorney would help the couple since that small, local bank has ties with every law firm in the city, all of whom told the couple they have a "conflict of interest".

[@jgg204]

The reason why those older people rushed in with their briefcase, was b/c they heard the stores from their parents who lost everything, absolutely all life savings, in the Great Depression when there was no FDIC.

[@NinjaPineapple]

Very good video on explaining the purpose of the FDIC.

[@mickygarcia4251]

No one has ever lost a penny - yeah, my pennies are all here; they're just worth a lot less.

[@richardscathouse]

Exactly

[@IOverlord]

Your money is safe. If it isn't, we'll just print more. LMFAO

[@corcaighrebel]

Fascinating, cutting edge, more of this needed.

[@c130comm]

It's now October 2019. History is about to repeat.

[@robertbates6249]

hope not

[@c130comm]

@@robertbates6249 me to

[@robertbates6249]

@@c130comm I got hit very hard in 2008 buti'm dumping of my big bank stuff I don't believe even they are immune

[@uhlijohn]

This happened in Feb. 2009. Funny how there is no date on the video to tell you when it was posted.

[@robertpsotka3525]

yup, let's all remortgage our assets over and over

[@jamessilver86]

Here cause $SVB stock halted today all day.

[@antonetrinh8662]

A major bailout is going on right now as we watch.

[@047Kenny]

Antone Trinh for who?

[@schawnettarobinson8584]

@Sheldon Cooper depression

[@jsfaulkner]

For those with not only deposits at banks but investments at brokerages, you have insurance too. Called the SIPC. It protects investments like stocks and bonds held at financial troubled firms. Up to 500K, and 250K for cash.

[@kandykanelane100]

Interesting…… The small banks failed, now the medium sized banks.

[@dalealmonrode4581]

Clicked on this thinking it was new! Obvious MSM is silent about this is happening now! SEPT 2019

[@peckerwood9383]

Meet the new boss,same as the old boss!!! Nothing changes!!!

[@bigsparky8888]

Yes it DOES...IT IS JAN 2020 NOW...MOST IS BEING HONESTLY HANDLED...I, PERSONALLY TRUST DONSLD TRUMP...POTUS...RE ELECT THIS MAN !!!

[@timeless6964]

Very Interesting and Informative!!!.....Thanks!!......Smart Lady!!!

[@SuperLovetolisten]

This happened to me personally back in 2008 in the transportation industry. It was a rough experience because it really broadsides you. Not seeing something coming really shocks the system

[@jeddiajones4570]

Hopefully you learned your lesson and are now prepared for what is coming now.

[@allgoo1964]

I was a customer of W. Mutual before they went bankrupt.(not my choice but the bank I had my account was taken over by the W. Mutual during the Saving & Loan scandal.) They had a saving account called "money market" savings, which wasn't covered in protection of FDIC.The teller's sales pitch was that I wouldn't have to worry about the bank failure and that it was a thing of the past, and that my deposit would be safe no matter what. Boy, she was wrong. Bank shouldn't be private profit seeking company(see the history before the market crash of 1929, banks failed by hundreds), or we should at least have an option of public bank. I wouldn't think twice which one to choose Banks have no reason to be private and profit seeking.

[@nickarcher03]

I think this was a fascinating story, well-reported y 60 Minutes and CBS. It was interesting to see the mechanics of how an FDIC takeover is done

[@dwaynejones1555]

Rick I agree

[@upchu005]

I agree. Politics and feelings aside, it’s neat to see how this is actually done.

[@Fingolfin3423]

@nickarcher03 Agreed. A lot of people don't really know anyone about the FDIC, the Federal Reserve, and many other institutions. They just think they "print money," etc. This piece by 60-minutes is great because it shows you one of the key roles the FDIC plays in stabilizing the economy by preventing panic, cutting out poor practice, and keeping money moving.

[@redmustang03]

My dad has worked there for 28 years. He'll close a bank every now again. He closed one in New Orleans about a couple of weeks ago. They work really hard to get the job done really fast in a couple of days. That's the thing with the FDIC is that they get funded through the bank fees to them so they will never ever worry about a government shutdown because the banks fund them.

[@USCG.Brennan]

Sounds good, but if there's a total bank meltdown as being predicted the FDIC will only have "pennies on the dollar" to reimburse ALL the bank depositors in the US. As far as her saying "we're the US Govt" and we can't go broke.....she's forgetting that the US Govt is now over 21 TRILLION in debt now. Who does she think she's kidding?----> www.usdebtclock.org/

[@USCG.Brennan]

@@TruthIsFreedom7777 You're preaching to the choir on that one....it's called QE1-2-3-4-5 etc to infinity. Our cash will be worthless soon just like Zimbabwe was and now Venezuela. I heard there was a bank run in Hong Kong over the weekend too. Time to own Silver and stock pile your food, water and ammo while you can.

[@JM-xp8te]

@@USCG.Brennan $32T now

[@mt_gox]

@@USCG.Brennan No, there is and will always be INFINTE numbers of dollars. They will ultimately be completely worthless, but they will exist.

[@USCG.Brennan]

@@mt_gox Where did I say that the USD was "finite?" I said it will be worthless soon and (just like Zimbabwe paper money) and that is a fact.

[@warthog473]

Everyone should watch something on KZbin-on a reputable channel like PBS or an educational channel-that explains how banks work, how the FDIC works and how it's funded, what happens if a bank fails, what customers' rights are, how the Federal banking system works. There's many channels that are meant to be watched by ordinary people so they can learn things like this. I learned it years ago, but was taught during my teller training when I worked for a bank, they offered free 8 week courses to employees back then. Now, with the internet, anyone can access information from the right sources. But I was surprised at the elderly couple that panicked. They probably remember the Great Depression, my MIL was about 10 at that time, so they have a hard time trusting banks, but when you open an account they give you all kinds of pamphlets that explain how your money is managed and what the FDIC does and the customer service reps go over it. I guess it's different when you're there and see the federal agents actually taking over running it.

[@OnlyThomasHayes]

Watched this for Macroeconomics. Representing UNG. Shoutout to Dr. Danns.

[@AgentSmith911]

No way the FDIC has a big enough reserve for the next bank failure

[@sharoncrawford3042]

They dont. If your bank fails you only get a certain percentage.

[@dickritchie2596]

Agent Smith The credit union insurance fund is solvent.

[@Sanctified.Homestead]

They will just print more money if need be or if they choose too.

[@cosmicrust9715]

Wake Up People, the FDIC is part of The FED and the FED is not part of the USA Government; It is a Private Finical Institution that The USA Government Borrows From = DEBT!

[@johnkesinger2191]

Next failure will be fixed with our deposits

[@kenfrank3782]

So this was originally published in 2009. Here we are in 2019 and the big banks are bigger than ever, the derivatives markets are bigger than ever, even some of the ‘Jingle Loans’ ( loans so horrendous that the borrower will probably be in foreclosure and send his keys in the mail to the ‘bank’- so the mail Jingles) - have come back on the market again as of a few years ago. I followed the 2008 crash extensively cause it effected my work and risky loans & derivatives beats were the major culprits But- Clinton admin bending to the big banks and doing away with Glass Stegal Act was the key that opened the door. Paul Volker and Sheila Baer -FDIC head in this video we’re some of the hero’s , along with Bankruptcy Law Professor Elizabeth Warren who pushed /beat over the head , the Obama administration to protect the regular citizens from the financial pirates who were gauging them by the formation of the Consumer Protection Bureau (Which trump has gutted). However the big banks/ finance institutions won out and it’s probably worst today than back than. As exhibited by the Fed Reserve announcement within the last few days (Sept 2019) that they need to inject money every day up to Oct 15 into the bank overnight repo market !! Something that was one of the many triggers of 2008 (actually last quarter of 2007 onwards)

[@eileenchin2427]

Warren 2020

[@davidwestwater1914]

Im not sure volker is a herro i also hate eric holder to the point of madness

[@chemamehc1]

Don't forget about that pos Secretary of Treasury to Clinton, Robert Rubin, who was monumental in those deregulations. He became a very wealthy VP to Citigroup after the repeal of g.s.. and the successful merge of Citi Bank and Travelers.

[@mt_gox]

@@eileenchin2427 da comrade

[@mitchellquartero]

In 2023 it happened again this time with svb

[@billdipperly6079]

"No depositor has every lost a penny" They've only lost 99% of the purchasing power to inflation.

[@cle569]

Praise Kek lol

[@herodotus53]

Not if they kept their savings in a CD or money market with a competitive interest rate that kept pace with inflation. Anyone who left tbeir life savings in a plain-vanilla savings account earning 0.03% for decades on end is too ignorant to be handling their own finances anyway.

[@billdipperly6079]

@@herodotus53 FDIC was established 1933, gold was 25$ an ounce. Today it is 1550. No CD will beat inflation

[@herodotus53]

I don’t know which part of the country you live in, but in my area I’ve seen several different credit unions offering CD rates up to 2.5%, when inflation for the year so far has barely approached 2%. I personally keep some savings in a money market fund earning over 2% because I need the liquidity and don’t want to tie it up for months or years on end. I’ll concede that over decades, CD rates might not outpace inflation, but realistically no one will keep their money in one place for 75 years- since we were talking about the timespan going back to the establishment of the FDIC in 1933. But what I think is *really* the issue here is whether or not financial markets outpace inflation. I’ve seen data stating that the “long term” (i.e. since 1913) rate of inflation has been just over 3%. inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp At the same time, the S&P 500’s annualized rate of return since 1913 has been about 6.5%. www.moneychimp.com/features/market_cagr.htm I think it’s somewhat disingenuous to compare the price of gold in 1933 with the price today without considering: (a) inflation adjustment, and (b) the annualized return on gold compared with equities. Investing in a retirement plan like a 401K is a decades-long process, so we’re talking about long-term returns here. From what I’ve found, it seems gold has an annualized return of just under 3%. I could only find data going back to 1968, but I think that’s far enough back to draw some inferences. dqydj.com/inflation-adjusted-gold-return-calculator/ In the short term, equities certainly are volatile. In the long term, they’ve been the small investor’s best hope of beating inflation.

[@herodotus53]

I should add that I’m not against a gold position in a portfolio. I don’t own physical bullion, but I’ve dedicated a portion of my assets to an ETF that tracks the price of gold. My thinking is that it might come in handy as a minor inflation hedge that I can always increase my exposure to if I feel the need to do so, but I’ll never come to regard gold as the superior long-term investment. I’m assuming you’re more of a “gold bug” than I am. If you own bullion, I’m curious- do you not find it relatively illiquid, and does that not concern you?

[@baddoggie101]

I can't believe that people don't understand what an FDIC insured account is.

[@weebgrinder]

Really pretty sad and scary. Making runs on the bank like it's the 1920s

[@mt_gox]

@@weebgrinder yes i'm from the government and i'm here to help you

[@masonclark6120]

​@@mt_gox boomer

[@mt_gox]

@@masonclark6120 are you ok mason?

[@ezrahopkins1913]

It's my money-i want it NOW!

[@Jondsmusic]

Andy Hopkins if you put money on their bank, by law and by contract it’s actually theirs!

[@Jondsmusic]

John Burket amen

[@cliffgriffen623]

It's not taxpayers money is a lie. Did you see her face when she said that.

[@ceoatcrystalsoft4942]

"Now if they can't pay then I won't have confidence in them either." Scariest foreshadowing ever

[@JL_Lux]

Wait what? Who missed a payment?

[@whywelovefilm7079]

@@JL_Lux no one did. He doesn’t know what he’s talking about…

[@raymondcaylor6292]

In 1984 I tried to borrow 30,000 from a local savings and loan company to buy a piece of commercial machinery using 40,000 of their own bank stock. I had originally paid $10 per share for 1000 shares but that stock was selling for $41 per share. The loan officer told me first that they could only loan 70% of the value. When I told him Okay, I'll borrow the 28,000 he came back and said sorry but because the stock wasn't traded on NYS Exchange they couldn't hold as collateral.....it was their own stock. I sold the stock for $39,800 and bought the equipment for cash. In 1992 they went bankrupt. I was one of the fortunate few who didn't lose their money by just dumb luck.

[@gdlywom]

He showing up with a briefcase for $500. What a drama king 🤦🏾‍♀️

[@thechubbypuertorican917]

Admit it, you’re here because of Silicon valley bank

[@bobby_greene]

It isn't paid for with taxes, it's paid for with insurance premiums paid to a government entity

[@russellringland1399]

By 2011 they blew through a lot more than the budget she mentioned.

[@markwilliam9460]

Yes i think you are making senses to the all the world

[@verfed]

Never keep more than $250,000 in a bank. Or even the older threshold of $100,000. I personally plan to never put more than $50,000 in a bank. Always keep some cash on you and at home, but also buy hard physical assets like gold, silver, guns, vehicles & property with cash - assets that won't dissappear during a crash like digital fiat dollars, stocks and bonds will.

[@brysoncherry9884]

All those material things depreciate.

[@bwdaswon]

Snow 123 not really $1 to $3 over spot. Silver is at $15 and some change a ounce.

[@USCG.Brennan]

@Snow 123 Any coin shop downtown will sell you Gold or Silver. Just call around to all the shops for the best price. NEVER store it in a "safe deposit box" though.....if you do, when the bank fails, you WON'T get in for who knows how long to take it out!

[@USCG.Brennan]

@@brysoncherry9884 Fiat money is depreciating faster....while Gold and Silver are a hedge against the falling dollar and WILL GO UP when the dollar finally crashes. Zimbabwe, Venezuela and Argentina are great examples of this.....

[@USCG.Brennan]

@@brysoncherry9884 When the manipulation of paper Gold & Silver "Certificate" prices is finally stopped....their REAL value will skyrocket. www.portfoliowealthglobal.com/corruption-in-the-gold-market-whistleblower-andrew-maguire-exposes-price-manipulation/

[@LTDANMAN44]

THIS WAS INTERESTING

[@jamieward7146]

I see traitors everywhere! LOL! I'm glad I have a deed to my property! LOL! My uncle told me to guard it with my life even in the face of death! Good luck NC!

[@fngonuts]

its a "warranty" deed. there is a deed, you are guaranteed of that. but you/we don"t have possession of it.

[@crescentprincekronos2518]

@@fngonuts yep, don't pay your taxes, your "lease" is revoked.

[@AgentSmith2K]

Who would have thought the same could happen. Silvergate and Silicone Vally Bank now collapsed. Where’s the next 60 minutes.

[@maxwellspeedwell2585]

"Backed by the full faith and credit of the United States government" Oh, NOW I feel better!

[@shaneourada3013]

Lol....go with a Credit Union Maxwell!

[@schawnettarobinson8584]

This is ruthless. This is reality.

[@allgoo1964]

Worst part of this bank bail out is that the government is saving the CEO who failed the bank to begin with. Saving the CEO is not going to help the economy, saving the life saving of the depositors is.

[@MrGHunter77]

Nice investigative journalism

[@laughinglion7659]

The FDIC said the money doesn't come from taxpayers, where else is it going to come from if their backed by the Federal government.

[@nunyadambusiness3530]

They print it. Inflate it away. After the REPO Market spike, we're headed towards hyper inflation after a decade of QE.

[@TopShot501st]

Banks pay into it like people pay into car insurance.

[@fahs]

This is such a great report. It would be great if CBS et. al. would go back to this kind of reporting instead of their ongoing "Republicans bad, Democrats good!" stuff they are throwing out now.

[@davidcanter2376]

very well said!

[@kennethblair9314]

The depositers are supposed to get 85% to 90% of the interest, and the bank owner around 10 to 15%. Most of the money is the depositers. Also the country needs a bill in Congress outlawing homeowner property tax and the land that it's on, with an Amendment to the Constitution. Municipalitys already collect business property tax, permits, and also get revenue from state and federal. The Amendment would state: "If necessary, the municipality may levy a retail sales tax in their district up to, but no more than 2 cents on the dollar, but may not transfer or shift taxation to another entity, other than the normal annual inflation rate put out by the U.S. Department of Labor".

[@hOtneO]

FDIC is a bandaid and can't do what is about to come. You are an unsecured creditor.

[@johngeyer2971]

Indeed. The FDIC, last I checked, has sixty-five billion in it's insurance reserve. The total of deposits in the U.S. is right around three trillion. I want to see how works out.

[@cosmicrust9715]

Wake Up People, the FDIC is part of The FED and the FED is not part of the USA Government; It is a Private Finical Institution that The USA Government Borrows From = DEBT!

[@dickritchie2596]

Elio Helio The Fed, or Federal Reserve is a bank. It is NOT a federal agency. Go check.

[@lynnscott8286]

I thought after 2008 the fdic wouldn’t work

[@tygaclericuzio4130]

@@johngeyer2971 I think it's more than 3 trillion as of now

[@RainbowManification]

@libertylouis Did you even watch the video? It's funded by premiums from member banks.

[@libertylouis]

Sounds like we should be with the smaller banks. Not safe to be with those LARGE ones. FDIC is Not Taxpayers/Governemnt money, then where does it come from? And then she says they Try NOT to go to the Federal Reserve which that is TaxPayer Money.

[@kenwilliamsvoice]

This video shows the leading edge of the storm. We're now leaving the eye of the storm and will soon be in the devastating trailing edge. Protect your money now!

[@ggstorm8101]

2021 here we go again

[@mitchellquartero]

Here comes SVB

[@robertw9677]

I find it sad such awful things occur in this country should be front page news every day

[@wafflesarecool1]

So should we stay calm with the current situation? People running to the bank to withdraw money would actually make things worse, correct?

[@dritemolawzbks8574]

Yes. If there are "bank runs," or speculation of insolvency, a bank holiday can be declared. The deposits insured by the FDIC are completely safe.

[@creativeflow952]

Still looking in 2021 I wonder how many are going to fall in 2021,22,23 .

[@kevinmael3862]

I once worked for a company where new management took over and the process sucks. Complete strangers come in and say"I'm the he man, you listen to me now. "

[@jacklingharibian554]

You should not invest in a product that you don't fully understand. However, people speculate with risk like addicted gamblers. Compulsive buying is often driven by feelings of anxiety, depression or low self-esteem. Compulsive buying disorder is related to materialism. Investors are seeking a certain image. Money disorders are maladaptive patterns of financial beliefs and behaviors. We need to pay attention to Behavioral Economics for all these financial speculations that cause corruption, poverty, and income inequality.

[@CrazyAboutVinylRecords]

The full faith and credit of the United States Government ain't what it used to be.

[@edermitt]

That's simply not true.

[@brysoncherry9884]

They owe trillions they wont pay back/ couldnt in the first place. That is the definition of horrible credit. If US had a fico score it would be in the red.

[@theinquisitor18]

@@brysoncherry9884, they owe money in the Form of U.S Treasury Bonds. You don't just pay bonds back. Most of these bonds are owed to two entities. The United States Social Security Administration and the People's Republic Of China. They usually pay a semi annual dividends, but that's not always the case. Just depends on the terms. The face value plus any interest is due in 30 years. So no need to be afraid. At the end of the day these are the absolute safest form of investments, but have very horrible yields.

[@herodotus53]

You're making too much sense right now, friend-- I don't think this is the place for you. If you're not a "goldbug" or survivalist stockpiling MREs, you'd better take your prudence and rationality somewhere else!

[@TheBandit7613]

@@theinquisitor18 You don't have a clue. Most US debt is owned by US citizens and corporations and banks. Stop writing about things you know nothing about.

[@KenMcGuire707]

Sheila bair please help California,, I am still stuck in this rut in northern California and Kamala Harris took the money from the homeowners to pay off California's bankruptcy

[@markhouck5258]

TRUST - SAFETY - HONESTY ... If Only You (We) Knew The Truth!

[@geraldsmith7240]

It Costs 3 Cents To Make One Penny.

[@kathytownsend6378]

Then quit making payments

[@mits_6131]

And we as Americans continue to bail out CEO's, COO's, CIO's and others.

[@shakaama]

@gobeavs22 seeing the fdic take over I understand where they are coming from. As a teller, you don't have anything to do with it, but the management is warned, then told, then threatened to cease unwise banking practices. To them the entire organization is a criminal operation. When a bank is teetering like that, if they don't step in, they could literally close their doors and say "out of business". My credit union told me nearly as such. They said they made some bad loans O_o

[@bullbear1113]

Great video

[@tamieholmes1725]

WE NEED MORE INVESTIGATIONS AND MORE ACCOUNTABILITY

[@ivana5167]

Now SVB, Signature bank, silver gate fail in 2023.

[@deadave100]

The best way to rob a bank....is to own one. "Do not discuss outside of this room..what is going on..what we are here for....." Got that 60 minutes viewers... shhhh...

[@lawneymalbrough4309]

Taking out the weak players is like saying We bail out the big boys and let the others fail because we want fewer banks in the country. "The FDIC is there" Yeah right to bail out big banks and let smaller one's fail. "the FDIC didn't have t pay deposits" No , but they will have to pay the loans that are not going get paid off. Of course the people who didn't pay off their loans will be held accountable in some way. A win win situation for banks!

[@zerklang]

Everything old is new again.

[@qualqui]

Hmmm..First Security Bank of Utah,.....seems like between '82 and '06 it failed....and now its Wells Fargo, this interesting video has just given me insight to what could have happened to the disappearance of First Security, which btw, was the first bank I opened an account as a kid.

[@richardscathouse]

Wells Fargo is nothing but a hollow shell waiting for a stiff breeze to blow it away

[@qualqui]

@@richardscathouse Did Wells Fargo start out as a stagecoach company? Over the years I've heard that remittances may be sent through them by Mexicans to their family back home in Mexico, I wonder what happened with the LDS Church that they joined/bought by Wells Fargo. Hoping the other small town bank is still alive and well, that's First Western National Bank.

[@davidboyd8113]

The end goal is one bank controlling the world

[@jairosambula3707]

You savings in a bank, the means you have no savings.

[@qwer123211]

Why not get to the real story: What occurred during the 2008 crisis was banks once again (happens every 8 to 10 years, simply do your own due diligence), banks got into trouble speculating with other folks money. The real story is Ms. Shelia as head of the FDIC at the time and whose responsibility it was to close a bank and give the depositors their money; however, why was this not done? Because their is NOT enough money in the FDIC coffers to bailout a single, yep 1 money center bank (i.e. Citi, BOA, Chase, etc.). Bottom line: That FDIC plaque on you favorite bank is a PURE fraud and if a company put such a fraudulent guarantee on their product, they would go to jail.......

[@CityLifeinAmerica]

They find a buyer like when they sold WaMu to Chase. When I had my account there all that happened was it turned into chase accounts and my cards worked until my new chase card came.

[@mjk6618]

Be careful of that FDIC people! READ the fine Print! FDIC used to secure EACH DEPOSIT UP TO $250,000... But NOW ONLY Insures per each SOC. SEC # Number!! NOT for EACH Account, like they DID in the past! >>> If you have 3 SEPERATE Acc't. w $250k in EACH... ONLY 1 Acc't is insured thru FDIC!

[@wangchuk67]

Never trust the bank big or small. Be your own bank.

[@jessehardwick7811]

If you dont hold it you dont own it. Let anyone else hold what's yours ( gold, silver, platinum, cash ) then you are basically and for all intensive purposes broke.

[@richardscathouse]

Better if you have nukes! Just ask NK

[@wangchuk67]

@@richardscathouse you cannot fight US with weapons that include any body. You have to fight them financially.

[@jessehardwick7811]

@Nonya Biznes My assets are in multiple places therefore they would all have to burn. Unfortunately most people believe i am as impoverished as they are. I do not lose a moments sleep and I possess it all. Metal to be sure and paper because I have no choice for now. I adore silver and gold.

[@tesla416]

If they run out of money, all they have to do is get out the printing press, since money is no longer backed by gold! The only thing we need to worry about next, is runaway inflation.

[@duggydugg3937]

how the cruck can a bank fail.. due to the 10% fractional Reserve Lending rule a bank can lend 10 X the cash it has in hand ! money that doesn't exist ! money from air ! that gets repaid to the bank with our earned money... plus interest !!! even if 50% of the loans fail, the bank still has tons of money coming in every month...

[@almay9962]

Are credit unions much safer with NCUA?

[@shaneourada3013]

Al May...great question! I have an answer, the answer is Credit Union are much, much safer than big banks. For this reason, all credit unions are member owned! The credit Unions answer to YOU, not shareholders! Credit Union are by their very nature member owned, and are not subject to public, or answer to shareholders! For example I have been a member of BECU for a long time, over 15 years!

[@DarkroomMedia007]

@@shaneourada3013 wow. I've heard of people saying that before and never paid attention. Thanks now I'm going to check out joining a credit union. 🧐💯

[@MrThe1234guy]

Interesting this was in my recommended what are you trying to tell us in 2019??

[@johnpoole8321]

i was just thinking the exact thing. This will make us withdraw early. Even on our cd's Then the lady says it's from insurance money that the bank pays not the tax payer. The bank makes money from us. Then says we are backed by the Government so we don't go broke. Yeah because WE pay for the government

[@frozentundra7446]

Hmmm, did anyone else notice there were only five bids to purchase Heritage Community Bank and MB Financial placed three of the five bids?

[@ytgv3fc7]

@dispersingweight hell, modify a gun-handle to hold 1 oz of gold on each side so you can carry that gold as safe as ever: in your hand that's holding the loaded gun.

[@nineseven420empire3]

That only works if the money is still worth something. Take a FEDERAL RESERVE NOTE out and read it... So? What is a dollar worth? How is it used? What if you use fractional reserve lending and you have no options left but to cut rates to zero?

[@fraudsarentfriends4717]

Noticed some videos like this one have no upload date.

[@chadwilliams9141]

This is pretty amazing and very concerning

[@sharpgirlsSerious]

The government should limit the size a bank should be.

[@lawsonharrison6927]

FRACTIONAL RESERVE BAMKING IS BAAAAAAAAAD!!!!!

[@slvrchrm3100]

IndyMac,Washington Mutual, Well Fargo isNext!

[@russellringland1399]

I hate WellsFartgo. Everyone I know hates WellsFartgo.

[@richbrake9910]

My bank? I don't bank.

[@richardscathouse]

Credit Union

[@summerbreeze1725]

this is so old! Now I don't think its the same