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Maintaining faith in the banking sector is of paramount importance to the US, and yes, $250K is the letter but (a) people with more than $250K in a checking acc
by arcticbull 5y ago
Maintaining faith in the banking sector is of paramount importance to the US, and yes, $250K is the letter but (a) people with more than $250K in a checking account know this and are suitably invested and (b) in the case of WaMu itself, it was simply sold to JPMorgan by the FDIC. They did not even have to draw on the insurance fund.