Quote Originally Posted by generalmeow View Post
They won't do this here, because they don't need to.
The point of my post is that this isn't new, they have ALREADY done it here. The government and CME allowed Corzine's company to TAKE depositor assets -- in some cases, precious metals that the company was charging a fee to hold -- and use it to pay off creditors like JP Morgan before depositors got any of their money back. If anything, the Cypriot approach is more honest because they passed it as open legislation even if it was done in the middle of the night.