Why does everybody think this is going to be a huge burden on the government, lots of sensationalism here.
Just by saying “we will backstop depositors” the government will likely have calmed things down enough that that’s the end of the story. Nothing else needed.
The bank has or can likely get the money to pay everyone back just not in 48 hours which is unnecessary anyway given normal outflows for the bank.
Just by saying “we will backstop depositors” the government will likely have calmed things down enough that that’s the end of the story. Nothing else needed.
The bank has or can likely get the money to pay everyone back just not in 48 hours which is unnecessary anyway given normal outflows for the bank.