Is it possible for all banks in the world to go bankrupt?
Could the governments end up owning all of them?
Posted December 22nd, 2009 in How To Go Bankrupt. Tagged: governments.
Could the governments end up owning all of them?
Technorati Tags: governments
How to go bankrupt: no bull advice on when and how to file, online bankruptcies, alternatives, tips, do-it-yourself with a low-cost attorney review.
In theory it is possible.
In practice it isn’t possible because there are many banks which made conservative investments and, as a result, are still very strong financially. These banks will not suffer severe impacts from the fiasco and will not go bankrupt.
By the way, if you are concerned about banks going bankrupt move your money out of any foreign banks and deposit it in US banks that are insured by the FDIC. Just be sure to keep each account under $250,000 (the FDIC insurance limit). I say this because US banks with FDIC insurance are the safest banks in the world.
Hope this helps
December 22nd, 2009 at 4:44 pmJerry-the-bookkeeper