If one big bank fails, it will cause a domino effect and confidence will be shaken, resulting in a bank-run everywhere, causing the already bad economy to worsen further......watch this space.
On another note, limpeh has a question. If the bank you took a home loan from goes bankrupt, does that mean no need to pay mortgage anymore ?
HahahaTiagong , if the bank fails , the home belongs to you. No more payment
this is truly coffeeshop talk. The liquidators of the bank will take over and continue to demand repayment from the banks debtors
The borrowers and debtors have to pay the bank (lender), or the appointed Liquidator of the bank.If one big bank fails, it will cause a domino effect and confidence will be shaken, resulting in a bank-run everywhere, causing the already bad economy to worsen further......watch this space.
On another note, limpeh has a question. If the bank you took a home loan from goes bankrupt, does that mean no need to pay mortgage anymore ?
Once liquidators are appointed, they will go after boorrowers.If one big bank fails, it will cause a domino effect and confidence will be shaken, resulting in a bank-run everywhere, causing the already bad economy to worsen further......watch this space.
On another note, limpeh has a question. If the bank you took a home loan from goes bankrupt, does that mean no need to pay mortgage anymore ?
No worry, it would not hit the income of the reserves if Temasek had invested in Credit Suisse and incur only few hundred millions or billions dollars losses.Maybe Temasek had already invested in Credit Suisse, you are witnessing the inevitable jinxing now.
