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Originally posted by NuclearPaul
I'm fortunate that my mother is the state credit manager of the bank I'm in.
I'm withdrawing my entire savings on Friday.
Originally posted by amatrine
I use a credit union, so I do not think I need to worry as much, though I do not have over 100,000 in there anyway.
I did check in though to see how the bank is that holds my mortgage.
What would happen if a major bank that holds a lot of mortgages went under, what happens to those? Are they auctioned off?
If they are bailed out, are they not in essence then getting the money twice on the same mortgage paper? Or do they have to pay back the money used to bail them out?