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Correct. The $250,000 FDIC cap is a favor to banks. They only pay fees to insure up to that amount. And it's bogus. The FDIC should require deposits to be insur
by cmurf 4y ago
Correct. The $250,000 FDIC cap is a favor to banks. They only pay fees to insure up to that amount. And it's bogus. The FDIC should require deposits to be insured, no matter the amount.
- oldgradstudent 4y agoThe insurance is there to prevent run on retail banks by the general public. It is expected that you manage your risks if you have significantly more than the insured amount.
- downvotetruth 4y agoI'm not going to pay to insure a millionaire. Insurance is not free.
- geodel 4y agoWith the way things are going, don't be surprised if some silicon valley innovator come with insurance product that can be purchased after the fact. With marketing like "Come, Disrupt the Insurance Industry" it might just work out fine
- whiterace1488 4y ago[dead]