Edits on my original comment are locked, but worth noting: Apparently the banks also thought there was no incentive to buy before the FDIC stepped in as well.

Edits on my original comment are locked, but worth noting: Apparently the banks also thought there was no incentive to buy before the FDIC stepped in as well. > At the very least, FDIC should issue a statement guaranteeing beyond the $250K/depositor limit sooner rather than later in order to stem some of the outflow. The FDIC chose instead to shut the bank in the middle of the business day. They apparently don't see this as inciting a systemic event, where other uninsured deposits at other banks will now begin flowing out. That imho is not playing it safe, given some of the price drops in the other banks today.