Basically a circle jerk where people borrowing money and not paying it back, business taking loans on leverage they don’t actually have and going bust.
Banks defaulting and no way to payout their customers in that branch because they lent it out.
When you have a bank account your money moves, your bank give you iou and they gamble / invest or lend out mortgages which go bad as much or more then good.
Banks defaulting and no way to payout their customers in that branch because they lent it out.
When you have a bank account your money moves, your bank give you iou and they gamble / invest or lend out mortgages which go bad as much or more then good.