4 ms·
$250k is not the most an account holder can get back if a bank fails, it is literally the minimum.
by aroman 4y ago
$250k is not the most an account holder can get back if a bank fails, it is literally the minimum.
- mirekrusin 4y agoIt's the maximum bank can get insurance for.
- brookst 4y agoNo, it is the minimum , maximum, and only insurance the FDIC provides. Banks can and do get private insurance beyond that. And stop acting like any uninsured money evaporates in a bank failure. Actually probably just stop talking about banks. This whole thread is an embarrassment of “smart people with strong opinions about things they have zero knowledge about”.
- mirekrusin 4y agoWell, thanks for clarifying, TIL that "(...) since 1933, no one has lost money due to a bank failure (...)" in US, according to FDIC. I wonder how this situation looks outside of US in more distressed economies ie. Argentina.
- emondi 4y agoWe had foreign banks who advertised that as a strength and sent their profits to their countries. But when there was a crisis they said we are just a local bank with the same brand as a US bank and won't give the customers their savings back.