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I don’t know about others, but I suspect that if the FDIC ran out of money, congress would figure out a way to fund it even if it meant printing money. I am oka
by klodolph 4y ago
I don’t know about others, but I suspect that if the FDIC ran out of money, congress would figure out a way to fund it even if it meant printing money. I am okay with this.
- nostrebored 4y agoBut liquidity is the issue here. In the event that this happens, how long would it be before you could have access to your funds?
- klodolph 4y agoWhy do you say liquidity is the issue? It sounds like you are imagining some specific scenario here.
- imtringued 4y agoHe means that the bureaucratic arm may take time to process your insurance claim, after all you aren't the only one waiting for your money.
- kwertyoowiyop 4y agoThe answer seems to be “a few business days, usually next next business day” but that likely won’t appease the tinfoil hat crowd. https://www.fdic.gov/consumers/consumer/news/cnfall14/misconceptions.html https://www.fdic.gov/consumers/consumer/news/cnfall14/miscon...
- kasey_junk 4y agoYou don’t need to guess. The FDIC is backstopped but the full faith & credit of the US government. There is a link prominently on the website: https://www.fdic.gov/consumers/assistance/protection/depaccounts/confidence/symbol.html https://www.fdic.gov/consumers/assistance/protection/depacco...