>Everyone learned this during the collapse of banks in the mid 2000s. No depositors lost a penny to bank failures in 07-08, or to any bank failures since 1933.

>Everyone learned this during the collapse of banks in the mid 2000s. No depositors lost a penny to bank failures in 07-08, or to any bank failures since 1933. If you had a billion dollars on deposit with Lehman, you got a billion dollars back. The lesson everyone has learned is that bank deposits are safe. Which makes sense! Why should anyone with more than $250k have to become a bank analyst just to keep their money in a single account? It's not as if mid-sized businesses are going to hire CPAs to navigate this jungle. They'll just pick a giant bank, and we'll end up with a total of three banks in the whole country.