The Chase Bank confiscation was not a confiscation at all, but a glitch which resulted in account balances in checking and savings accounts to drop to a zero balance for several hours.
Coming after the news of Cyprus grabbing 10% of people's monies in that Meditterainean country, the zero accounts made customers think the same thing was happening in America. The bank blamed an “internal” issue for the glitch, and it was resolved by the evening.
-- Political Pistachio Conservative News and Commentary
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