FDIC & Bank of England create resolution authority for unlimited Cyprus-style “Bail-Ins” for TBTF banks
On Wednesday, SD broke the news that Canada had buried a provision for depositor bail-ins for systemically important banks deep inside its official 2013 budget, and stated that the Cypriot bail-in was not just a one-off event, but is in fact the new collapse template for the entire Western banking system.
We suspected that the same policy change had been made by the US & the UK, but was simply yet to be discovered, buried in the website of a Federal agency.
We suspected correctly…
the list of countries is growing..now the big two..UK and USA with bail-ins..that when we lose..bail outs are when..we lose as well..but not directly..they arent bothered with being subtle now..its just theft..