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To: Vendit™ who wrote (47325)	3/18/2013 8:53:58 AM
From: Augustus Gloop	1 Recommendation Respond to of 219483

People in the US have to start viewing bank deposits for what they really are. Most would say savings but the reality is - they ARE loans to the bank. I could be verbose and discuss all the implications but everyone on this board gets it already.

To: Vendit™ who wrote (47325)	3/18/2013 9:08:59 AM
From: Seismo	Read Replies (2) \| Respond to of 219483

The biggest aspect of this for me is that it is not the Cyprus bank bondholders that are taking a haircut but the bank depositors. So, insured bank deposits are now effectively subordinate to uninsured European bank debt. Didn't WE already do this by bailing out bank investors with public money? Money the taxpayers will be on the hook for.