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I think they should, but before they do, the clients should be alerted and have their accounts transferred over to another bank.
It would appear that you do not understand how banks work. Either that or you are saying that rival banks should be liable for the debts of other banks that fail.
For once you actually make some sense.
The American taxpayer should never be forced to pay for business mismanagement.
In a free market capitalistic system, when one business fails there are always other businesses ready to fill the void. As far as banks are concerned, the person who sets his/her money into any financial institution needs to take the time and make the effort to research that institution for its stability and reliability.
However, when government becomes involved in the financial world we have the mess that we are in today.
I do not have the answer, but I do know that something needs to be done before it is too late.