Originally Posted by
Sirscrapalot
Didn't the Greeks just go through this thing with the government seizing the funds of the Russian billionaires who were socking their cash there? I'm not a money man, don't profess to be..just something I read. Perhaps I'm thinking of somewhere else..I dunno!
I'm just a simple man. I leave this for all you smart folks.
Sirscrapalot - I'm not interested in preserving the status quo; I want to overthrow it. - Niccolo Machiaveli
It was Cypress and the funds they went after were mostly Russian mob money (they like to keep it away from the Russian government). The reason they even touched that cash is because the banks made loans to Greece and when the EU decided that Greece couldn't pay it back the banks who loaned money lost a big chunk of it. So Insolvent banks who only had to insure $100K Euro or so took the excess to cover their losses. In the US you can have $250K insured by the government in a bank, that bank goes bankrupt you will have to fight over whats left in assets to get some of it back if there is any left. If the Cayman islands ever decided to just keep the money in its banks the only people really affected would be international tax evaders (mostly from the US).
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