Financial Meltdown in Cyprus. NFLX may go lower tomorrow.
All of this has nevertheless led to speculation about whether a similar situation could befall Americans. If American banks were in trouble, could they impose a tax on depositors? More importantly, if everyone rushed to take their money out of the bank in order to avoid the tax, would banks and ATMs shut down, as many have in Cyprus? According to the Federal Depository Insurance Corporation, your money is safe and you shouldn’t worry.