No. of Recommendations: 1
Really the single mom or European Expats you mention surely could have diversified savings around couldn't they?

Yeah, sort of like the large US corporate depositors do. It's not like there's a shortage of banks to choose from. Just put 100K in each one. Unless, of course, they're one of the too-big-to-fail. Then, you can pile it all in one place.

I agree that the bank wipeouts should occur. It just seems arbitrary that Cyprus is the first country in 5 years where the power brokers allowed banks to go down with depositor wipeouts.

Everywhere else, the big corporate depositors (as well as the crooks and the single moms) were bailed out.

No matter. It doesn't affect me (right now, anyway).
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