Paraguay bank collapses with half of population's savings | Hacker News Reader

Paraguay bank collapses with half of population's savings

aljazeera.com

68 pointsmikhael10 comments

The submitted link borders on worthlessness, even though the topic seems very interesting. Here is something quick I grabbed:

https://abcnews.com/International/wireStory/paraguay-seizes-...

Better submissions (take your pick): https://news.ycombinator.com/item?id=50381177 and https://news.ycombinator.com/item?id=50381289

Santiago Peña resigned as president of Paraguay. I wonder if this is a domino effect of Trump losing midterms.

Paraguayan here. Not really, it's more of internal political maneuvering. With all that said, Peña was really deep into that bank crap, so the resignation is justified in my opinion.

I doubt it, but based upon the abc link orsorna posted, I cannot but help to think if this is a preview to the *coins (!bit) created at the start of Trump 2. This includes Trump's Coin.

Business as usual.

Please dont normalize the devastation of the majority of the population of a country

The situation is awful, but it's not "devastation". Deposits are guaranteed and the guarantee is being executed. 98% of savings account will be paid in full.

And Im sure that will all be sorted out quickly and with the minimum of bureaucracy, and that the entire banks systems wont be frozen for weeks and weeks while the poor families who are living hand to mouth cant access the little money they have to survive.

I mean, if their bank accounts are frozen for a few weeks (or longer) Im sure they can just liquidate another one of their many asset classes to tide them over, right? I dont know why so many people are making such a big fuss when they could just sell one of their yachts

Actually, payments began Thursday, 48 hours ago. I've received mine today.

The situation was bad but is returning to normalcy. The big exception was the people employed by that corporate group, that suddenly found themselves without a job. That is really bad.

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