A very simple and clear article.I think a couple of our...

A very simple and clear article.

I think a couple of our financial whizzes here will show up soon and say 'oh, that article is not true'. But I will counter by saying the article is only representing the NZ law.

I love the quotes that the deposits may be held in the bank but the depositor cannot get them for an extended period of time.

And I love the quote that says a failed bank can reopen quickly as long as they dont allow depositors to withdraw money.

This is like the Hotel California for banks. Your money can check in, but it can never check out.