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Since it was the result of single moment in time 100 years ago and never adjusted, yes it was basically an accident of history.
by alpineidyll3 4y ago
Since it was the result of single moment in time 100 years ago and never adjusted, yes it was basically an accident of history.
- bradleyjg 4y agoYou really think the FDIC limit was $250k in 1933? I mean go ahead and google but you should have been able to intuit this one.
- smugma 4y ago“Only six months after the creation of the FDIC, government leaders realized the initial $2,500 limit was not enough to effectively support the banking system. So, on July 1, 1934, the FDIC limit was doubled to $5,000.”