According to prominent economist Igor Lipsits, an analysis of recently signed legislation reveals a concerning plan. The strategy involves rescuing financially distressed or bankrupt state enterprises not through direct government funding, but by issuing shares of these failing companies. These shares are then intended to be sold directly to banking institutions.
The critical point Lipsits highlights is that the funds banks will use to purchase these shares will effectively come from the deposits held by ordinary citizens. This implies an indirect seizure of depositors' savings to bail out failing businesses.
Naturally, this comes after the authorities actively encouraged people to deposit their money into banks, luring them with attractively high interest rates. It now appears the government intends to leverage these accumulated funds for this rescue scheme.
Consequently, when these depositors attempt to withdraw their savings, they face the potential reality of being offered potentially worthless shares in these bankrupt companies instead of their cash, or simply being told to return later, effectively delaying or denying access to their money.
