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Originally Posted by ken0042
Weren't there a number of banks that went bankrupt in the 80's in the States?
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Yes. The Savings and Loan crisis was really bad for a while.
Link:
http://en.wikipedia.org/wiki/Savings_and_Loan_scandal
There were a few near bank bankruptcies in Canada too around the same time, which usually ended in mergers/acquisitions. My parents used to bank with the Bank of British Columbia. They went down in flames in 1986. They didn't loose their savings or anything, but it still wasn't much fun trying to get everything out. In the end all of BofBC's assets were acquired by Hong Kong Bank of Canada, now HSBC.
Link:
http://en.wikipedia.org/wiki/Bank_of_British_Columbia