3 ms·
If you want no risk you will have to pay an institution to handle all the logistics of moving your money around, not have them pay you for the privilege. The f
by bradleyjg 4y ago
If you want no risk you will have to pay an institution to handle all the logistics of moving your money around, not have them pay you for the privilege.
The fact that SVB pays depositors should have been an indication that there was risk.
There ain’t no such thing as a free lunch.
- plonk 4y agoThis is arguably the government's job and people already pay for it.
- bradleyjg 4y agoI don’t see anything in my copy of the constitution about subsidizing demand deposits.
- lotsofpulp 4y agoThe federal government should provide electronic money accounts with capabilities to perform transfers as infrastructure. Perhaps this will cause some richer people to politically support this.
- bradleyjg 4y agohttps://en.m.wikipedia.org/wiki/United_States_Postal_Savings_System https://en.m.wikipedia.org/wiki/United_States_Postal_Savings...
- belter 4y agoThe government already solved this with the FDIC deposit insurance, and it is funded by the banks. "...The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding. When dues and the proceeds of bank liquidations are insufficient, it can borrow from the federal government, or issue debt through the Federal Financing Bank on terms that the bank decides." - https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corp...
- SomeHacker44 4y agoThere are already accounts that do this for you - split large sums automatically across numerous insured accounts.