Speaking of the Microsoft Bing AI Chat box, I asked:
How many bank failures in the US since 2000?
Chat Box replied: Since the year 2000, there have been 562 bank failures in the US.
I then asked, How many bank failures in Australia since 1992?
Chat Box replied: I found a source that says that the last time Australia had a bank that almost failed was the R&I Bank, now known as Bankwest, which experienced a bank run back in 1992. It was a failure, but it survived because the West Australian government stepped in and guaranteed all the deposits.
Obviously I already knew the answers, particularly as I was certain that the last two banks to fail in Australia were the State Banks of SA and Vic. Still impressive Chat Box.
On the subject of bank failures, in America they are routine. The deposits and assets of the failed banks are moved on to another bank, the stockholders and bondholders of the failed bank lose the lot (most of the time).
Speaking of the Microsoft Bing AI Chat box, I asked:How many...
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