The Dark Truth About The Safety Of Our “Savings”
It’s a little known fact about the Spanish crisis is that when the Spanish Government merges troubled banks, it typically swaps out depositors’ savings for shares in the new bank.
So… when the newly formed bank goes bust, “poof” your savings are GONE. Not gone as in some Spanish version of the FDIC will eventually get you your money, but gone as in gone forever.
Read More: http://economicrisis.com/the-dark-truth-about-the-safety-of-our-savings/2283