Your Bank Has Failed

What would happen if your local bank failed? Scott Pelley and "60 Minutes" were given extraordinary access, as the Federal Deposit Insurance Corporation moves in to take over a failed bank in Chicago.

Category:

News & Politics

Tags:

• 60
• minutes
• scott
• pelley
• exclusive
• fdic
• your
• bank

[FRSFreeStatePlus]

My whole problem with TARP was that we bailed out banks that failed on their own. And we borrowed 787B$ before interest to do so. So we were hurt by the banks bad behavior twice.

[jhunted7667]

it's our own fault , Thomas Jefferson warned what would happened , our only chance is to close the Federal Reserve

and go back to small banks with competitive interest rates, we should have never gone off the Gold standard

[jorivice]

NO. I work in deposit insurance in Ecuador, where it is forbidden to use public money for failed banks issues.

What it means is simple: If the bank fails, you have insurance over your deposits, the same as when you insure your car. In this case, the insurer is the FDIC, but you don't have to pay the premium; you bank does.

[beau4307]

Doesn't this mean that our banks are essentially nationalized anyhow?

[bdriz16]

The gov't will own EVERYTHING if all banks are nationalized.....we're fu**ed.