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Which is why FDIC insurance is a thing.
by drc500free 4y ago
Which is why FDIC insurance is a thing.
- Grimburger 4y agoIt's financial snake-oil though. You do not want to any own dollars if it ever gets invoked on a big enough scale with a major bank. They simply do not have your money nor could they realistically insure every persons savings if their was bankruns, it's a system built upon nothing more than trust. When that trust dwindled in recent times, they brought in FDIC to create more trust out of thin air.