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White House petition on protecting depositors

[It takes 150 signatures to make it visible on the White House site. So please sign, if you can! --lambert]


Protect personal accounts from confiscation for bank bailouts

Whereas, during recent events in Cyprus, the European Union sought to confiscate personal accounts, including insured accounts, for a bank bailout;

And whereas the Open Bank Resolution of the Bank of International Settlements considers holders of personal accounts "creditors" and hence subject to "losses" during a bailout;

And whereas millions of Americans have entrusted their money to banks for safekeeping;

Be it resolved that the President of the United States, Barack Obama, shall issue this statement:

"Neither the Federal Reserve, the U.S. Treasury, nor any other governmental or international body shall ever levy deposits from U.S. personal bank accounts for the purpose of a bank bailout."

The President shall enforce this statement with appropriate regulations.

99,000 to go!

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Rainbow Girl's picture
Submitted by Rainbow Girl on

There needs to be something in there about how the US Government and Federal Reserve shall in no event permit, tolerate or enable *PRIVATE* individuals or institutions to seize deposits (with exceptions for whatever current provisions exist in re garnishment, etc.)

I think I signed one like this in French.