BANK FAILURES

In 2008, led by securitisations and the subprime crisis, the investment bank Lehman Brothers went bankrupt.

This was very bad news for the leaders and employees of the bank but also for the global financial system.

In the months preceding the announcement of its debt, the American bank concealed its losses and presented a falsified balance sheet.

The same year, a few months earlier, the Bear Stearns Bank was also bankrupt under similar conditions.

Currently, global debt has exceeded $ 240,000 billion, the risk of bank failures continues to grow due to defaults of borrowers: individuals, businesses, communities, states.

Holding WAT $ assets independent of banks through blockchain technology is keeping WAT $ holders safe from bankruptcies.

Money remains available 24 hours a day anywhere.