4 ms·
You're right that FDIC doesn't have to, but it's in everyone's interest that people keep keeping their money in a bank, so the long and the short of it is that
by zamnos 4y ago
You're right that FDIC doesn't have to, but it's in everyone's interest that people keep keeping their money in a bank, so the long and the short of it is that the FDIC's playbook is to find another bank to buy SVB (for pennies on the dollar), and as part of that deal the purchaser bank will make them whole. FDIC doesn't necessarily have to do that, but it's what they've done in the past, so guessing that they will do something similar this time around isn't out of the question.
- landemva 4y ago> it's in everyone's interest that people keep their money in a bank I never heard that before. The rich keep their money in investments.
- zamnos 4y agoDon't put words in my mouth! What I wrote was "it's in everyone's interest that people keep keeping their money in a bank". Which is different.
- landemva 4y agoHey sorry, I read it and thought that was a typo. For your explained meaning, it is in depositor's individual interest to remove their money. Get cash or t-bills. Also get a credit union account where they work for the members.