That article highlights a very serious truth. The risk of default is one thing, but the financial system depends on accounts only being accessed for very specific and authorised withdrawals. I haven't read the relevant documents but I can not imagine that anywhere in the bank's charter or any other legal document that it allows the withdrawal of client funds that actually took place... and you can be certain that if the shoe was on the other foot that the illegal transactions would be reversed in a heartbeat.... and with the system the way it is there is nothing to stop the illegal transactions being reversed in the current case as well.
