Thread: A note of caution for those with deposits in US Banks

Originally Posted by Spin

Originally Posted by Peter Schiff

Further, since I assume the plan will apply to all mortgage debt, U.S. taxpayers will also be on the hook to bail out foreign institutions that loaded up on the financial sludge

I'm doubting theres any truth in this. Anyone care to comment?

Losses at UBS in Switerland are losses at UBS in Switzerland surely?

Peter Schiff assums quite a lot. The plan specifically states that it applies to "firms based in the US".