This isn’t a surprise. The deposit holders will get reimbursed . I agree with Ro Khanna the insider compensation should be clawed back if there is any way to do so. In a bankruptcy case, if a corporation or individual debtor did this, it would be deemed a preferential transfer within 90 days and the trustee could claw back the cash. I am…
This isn’t a surprise. The deposit holders will get reimbursed . I agree with Ro Khanna the insider compensation should be clawed back if there is any way to do so. In a bankruptcy case, if a corporation or individual debtor did this, it would be deemed a preferential transfer within 90 days and the trustee could claw back the cash. I am.not as familiar with bank regulation, so I am not aware if bank regulators have similar power. As for the 19th century and the modern gold bugs and Mises worshippers, we were on the gold standard up until the 1929 crash and in the 19th century there was an economic crash every 20 years or so. There was no one there to protect the ordinary person until the New Deal era.
This isn’t a surprise. The deposit holders will get reimbursed . I agree with Ro Khanna the insider compensation should be clawed back if there is any way to do so. In a bankruptcy case, if a corporation or individual debtor did this, it would be deemed a preferential transfer within 90 days and the trustee could claw back the cash. I am.not as familiar with bank regulation, so I am not aware if bank regulators have similar power. As for the 19th century and the modern gold bugs and Mises worshippers, we were on the gold standard up until the 1929 crash and in the 19th century there was an economic crash every 20 years or so. There was no one there to protect the ordinary person until the New Deal era.