Got an answer for what happened to some banks during the Mexican peso devaluation. Please see paragraph 4:

en.wikipedia.org - Mexican peso crisis.

The wikipedia link says some Mexican banks went out of business.

The smart money guys today are increasingly mentioning devaluation of the US dollar at some point as a result of US deficit issues. Most say this will not be a problem until the US starts having problems selling Treasury bonds. These guys and girls say it is hard to say when the tipping point has been reached. This subject matter is in the too hard pile for me. Nonetheless, as an owner of three different bank stocks, I cannot hide my head in the sand. Buffett has a history of selling down to a small percentage of BRK's original holding. BYD is a recent example. Perhaps he is doing the same with BAC. I went into IBM with Warren and I exited IBM about a month after Warren after doing some conversations with companies that use IBM's services. This BAC action by Buffett feels similar. Could Warren be doing a portfolio risk management "house cleaning" in preparation for a long period without his hand on the tiller? De-risking out of bank stocks should a potential devaluation occur during the early years after he has departed the scene?

I welcome your thoughts as this may be a topic worthy of some collaborative discourse.

Uwharrie