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> There's a reason the FDIC was set up as part of the reforms triggered by the Great Depression But we did have the FDIC, so normal people would not have lost
by nix0n 5y ago
> There's a reason the FDIC was set up as part of the reforms triggered by the Great Depression
But we did have the FDIC, so normal people would not have lost their deposits from a bank failure.
- AnimalMuppet 5y agoRight, except that the FDIC is only big enough to handle $N in bank failures, and N is not that large. Also, resolution through the FDIC means that you get your money... eventually. That can still be a problem if you have to pay your bills this week, though. (And then, if you and enough other people can't pay your bills this week, that can be a problem for businesses...)