Citi nationalization

2 posts / 0 new
Last post
plantguy90's picture
Status: Gold Member (Offline)
Joined: Jan 26 2009
Posts: 271
Citi nationalization

If it happens, will my deposits be safe?  I still use Citi for its convenience to move monies around.  In this case I want Ben to print as much money as possible so there is no Ukrainian incident here. 

strabes's picture
Status: Diamond Member (Offline)
Joined: Feb 7 2009
Posts: 1032
Re: Citi nationalization

theoretically yes...just like in bankruptcy, nationalization doesn't effect deposits.  it's just a change in ownership and capital structure.  

however, the biggest bank in the world failing is a signal that should be really failed last year along with BoA and everything else that's being bailed out.  if a good percentage of banks go bust, FDIC will be useless.  and obama won't be bailing you out. that's why it's a good idea to have some percentage of your assets outside the banking system. 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments