> the world economy grew massively without the need for federal deposit insurance You make it sound like other countries have never had banking crises identica

> the world economy grew massively without the need for federal deposit insurance You make it sound like other countries have never had banking crises identical to those in the US, and responded to them by also establishing deposit insurance (and a host of other regulations for commercial account holders). Also, I don't understand the relevance of "world economy grew massively without deposit insurance". The point of deposit insurance is to give peace of mind to depositors and establish trust in the banking system, not make GDP go up.