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Old 09-11-2019, 03:21 PM
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Join Date: Oct 2000
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Originally Posted by ShadowFacts View Post
Not a Woosh at all; I just wouldn't go around stating that I was suffering from a case of smallcox. The joke works as well changing "I" to "my roommate", leaving someone else to be pointed to & laughed at.

Originally Posted by Corry El View Post
Actually the bank (its shareholders) *is* a loser if the stupid couple can't pay back what they owe or can't for years, time value of money, which seems likely. Because the bank definitely cannot tell the rightful owner of the money 'sorry, we can't give you back your money because in the meantime we gave it to the wrong person and they spent it'. The bank still owes the rightful depositor the money, and that depositor could absolutely take the bank to court in the far fetched scenario where the bank tried to give an excuse like that to not pay. And if paying depositors back money the bank had lost drove the bank to insolvency, the FDIC would make whole any depositors who got shorted, up to the applicable limits.
You do realize how little of a depositors money a bank is using? They can make loans/investments basically ten times total deposits & that, collectively, banks made $60 billion last quarter; the time value of getting repaid over years is a fraction of a drop in the bucket to them.