Ask Terry Questions Looming Bank Failures??

Looming Bank Failures??

By Terry Savage on June 22, 2020 | Taxes & Economy

The following video talks about banks failing due to partaking in CLOs. How should small savers
protect themselves? I’m thinking about moving money into an insured credit union.

Terry Says

First, this is just a scary commentary designed to gin up interest in viewership. The Fed chairman has repeatedly said he would “bail out” all banks. And we are going into this situation with banks in a far stronger position than historically.
Yes, lower interest rates will hurt banks — but they will all survive

But the REAL issue is that YOUR deposits are all FDIC insured by the Federal government! (In a banking crisis it is the SHAREHOLDERS who lose money, not the depositors!)
AND, the same government that stands behind FDIC insurance stands behind Credit Union deposit insurance!

There are more important things to worry about!!!

money

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