Community » Forum » Business » Breaking News: Berkie declares bankrupcy

The owner of Berkie Holdings, the multinational conglomerate with controlling stakes in a dozen Cobalt subsidiaries, has died unexpectedly with a sudden onset of middle age boredom. Effective immediately, his stake in Cobalt has been distributed among random people he's met along the way & a vote has been called to appoint MysticBix as the new CEO of Berkie to take over.

@cobalt, @MysticBox, @Gluten, any chance of getting my deposits back?

There has to be some kind of system to prevent dodgy, mismanaged, abandoned banks becoming blackholes for money. Some kinds of failsafes?

Beyond that, how can I trust any bank here? What's the criteria? Should they have a credit score or grade?

There has to be some kind of system to prevent dodgy, mismanaged, abandoned banks becoming blackholes for money. Some kinds of failsafes?

Beyond that, how can I trust any bank here? What's the criteria? Should they have a credit score or grade?[/quote]

Small chance, I'm down ~100 in deposits and ~800 I borrowed him aswell.
As currently there's nothing to prevent any scams with banks you can't really trust any.

I.m.o banks should be a little bit more regulated such as:
- Obligation to have at least 50% of deposits in cash assets for each currency,
- They should not be able to 'send money' off to them-self or other players,
- Each loan can not be more than >5% than their current cash assets,
- Interest percentage on loans should be at least double the average percentage they 'pay' for deposits.

That way a lot (but still not all) of the scams could be prevented I guess.

I'm not CEO at the moment but there are currently 3 directors. As of now I wouldn't suggest anyone deposit into any banks unless it's one of the higher NW ones and don't ask for large loans until you have a good amount of money saved.

Edit:I'm CEO now I'll see what damage is done xD

@MysticBix: So what are the next steps at Cobalt Savings, when are the deposits available again? I have 45 Dollar deposit I can't withdraw.

wow, I lose my 40 dollar deposit, and I spend 73 dollars on 2 pieces of food (was homeless and didnt notice) IN THE SAME DAY

calm down cry babies, banks are criminal in real life aswell.
bank with one you trust, monitor the situation of the owners, etc.

I liquidated some of the assets I could find and paid back all USD deposits. I gave my holding's 40% of the bank to cover my investment in Berkie and I'll take charge of it. The directors of Berkie can do what they want with the rest. That's the most I can do. Sorry guys.

thanks