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The reason people don't try to pull their money out all at once is because their deposits are insured, because their bank pays into an insurance pool. Only up

by yucky 4y ago

The reason people don't try to pull their money out all at once is because their deposits are insured, because their bank pays into an insurance pool. Only up to $250k.

smcl 4y ago
https://fortune.com/2022/05/23/record-number-american-households-400-dollar-emergency-savings/ https://fortune.com/2022/05/23/record-number-american-househ... That wouldn't be a problem for the majority of Americans
- astrange 4y ago
  If you go over $250k, you can just open accounts at other banks to keep being insured. Or get your own insurance I suppose.
  - smcl 4y ago
    My point was that if many would struggle to put together $400 in cash, they’re likely unaffected by a $250k upper limit on insured deposits
xmprt 4y ago
How many people do you think have more than $250k in the bank? How many people do you think have more than $250k in FTX? It sounds like you're saying it's not good enough because 0.1% of people won't get the full benefit.