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Old 03-25-2013, 06:15 PM   #118
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Join Date: Aug 2005
Location: Denver
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Originally Posted by baja View Post
Maybe I'm old school but I put my money in a bank for only one reason safe keeping, if they were to take 40% to pay off their bad investments I would not consider that safe keeping

Hey it's not like I'm investing with them and would see a return on my money
If you put your money in a European bank, your deposits are insured to 100k Euros (US, $250k).

If you put it in an 'offshore bank' looking for high returns (Cyprus) you have no insurance.....excepting that because Cyprus is in the EuroZone, they were able to get a bailout and bank deposits were insured to 100k.

If that were a Cayman or Bahamian bank, depositors would lose all.
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