Not just Cyprus! Who Else Has Plans To Grab Small Depositor Savings To Bail Out Failing Big Banks?

[customerserviceguy]

16. While I share your disdain for big banks

It isn't the banks that are doing this, it is the governments who may be contemplating taking part of depositors' funds. They won't exempt the small banks or the credit unions (or equivalent organizations) when they do this.

I have to think that the Cypress case is unusual, in that a lot of Russian oligarchy money is laundered through them. That probably isn't the case in any other place outside of Switzerland, and they're not part of the euro. It's like the cities that enact taxes on things that mostly tourists use, such as hotel/motel rooms and rental cars, it's a way of getting tax money without directly hurting your voting constituency.

If I'm wrong, then all hell breaks loose, as the lucky few who manage to get their savings out survive while everybody else perishes.