The article claims the bank's losses were insured by the federal government, yet it closes by saying some people that banked there are having financial trouble.
How's this work? Aren't the bank's losses essentially people's deposits? Where'd the insurance money go then, or has it simply not yet been paid out?
How's this work? Aren't the bank's losses essentially people's deposits? Where'd the insurance money go then, or has it simply not yet been paid out?