They do, but there is a limit of $250K that the FDIC (taxpayers) guarantee. It's been $250K since 2008, but they should allow it to keep up with inflation, whic

They do, but there is a limit of $250K that the FDIC (taxpayers) guarantee. It's been $250K since 2008, but they should allow it to keep up with inflation, which would be approximately $355K now. The rest needs to come from the sale of the bank's assets, but that takes a while. I believe the petition is asking that the government cover the difference by paying out now and assume the risk of the bank's assets not covering the difference.