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For individuals, sure. Which is why I'm in favor of the FDIC system. It's a waste of time to make average people try to figure out the safety of particular bank
by wpietri 4y ago
For individuals, sure. Which is why I'm in favor of the FDIC system. It's a waste of time to make average people try to figure out the safety of particular banks just to be sure their $5k in checking is safe.
For people managing millions of dollars, though, I think they should, y'know, do their jobs and make professional-grade risk management decisions. Especially when the alternative is taxpayers coughing up money to subsidize their mistakes.
- bombcar 4y agoIt’s so rare that people ignore it. I’m surprised there aren’t insurance companies offering “fdic++” - I’m sure the underwriters could work out what it would have to be.
- mindslight 4y agohttps://www.difxs.com/ https://www.difxs.com/ for one. I learned about this today through the Nerdwallet link. It's small though and I'm surprised there hasn't been more talk of it and other optional deposit insurance. What does this landscape look like for large companies routinely doing millions in payroll? You can't tell me they sweep it all in/out of different banks in 250k chunks. There has to be some sort of widely used insurance offerings, no?